**United States Secures Direct Stake in Venezuelan Oil Fields**
*Washington, D.C., September 2 2026* – The United States has finalized a strategic agreement that gives the U.S. a direct ownership stake in a block of Venezuelan oil fields that had previously been controlled by Chinese and Russian corporations. The deal, executed through the Pentagon’s Office of Strategic Capital (OSC) and a private operating company linked to Venezuelan businessman Alejandro Betancourt, is intended to secure long‑term U.S. energy supplies and to anchor a Western‑aligned economy in Venezuela.
The oil block contains an estimated 65 billion barrels of proven reserves, a fraction of Venezuela’s total reserves, which officials say are more than double that amount and remain available for further outside investment. The agreement allows the United States to purchase crude at cost and is part of a broader effort to reduce the influence of China and Russia in Venezuelan energy assets.
**Key Elements of the Agreement**
* The OSC, a statutory body created during the Biden administration, has previously taken equity positions in other foreign energy assets.
* The deal was struck not with Venezuela’s interim government but with a privately held, foreign‑registered operating company that is closely tied to Betancourt, who is described by officials as Venezuela’s largest private oil operator.
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Article and image source: beijingbulletin.com
