Who is Alejandro Betancourt, ex-Chavez ally now Trump’s Venezuela oil man?
Summary
The Trump administration has partnered with Venezuelan businessman Alejandro Betancourt to lead a new US-backed oil project in Venezuela. The US will gain majority control of over 65 billion barrels of proven Venezuelan oil reserves through this deal with Venezuela’s interim President Delcy Rodriguez.Key Facts
- Alejandro Betancourt is a Venezuelan businessman who made his fortune under President Hugo Chavez.
- Betancourt’s firm Derwick Associates won lucrative power plant contracts in Venezuela during the late 2000s.
- He has faced investigations for alleged corruption and money laundering in multiple countries, but no formal charges or convictions.
- The Trump administration plans to take a 35% passive stake in Betancourt’s oil company, North American Blue Energy Partners (NABEP).
- NABEP is Venezuela’s second-largest oil firm and produces about 200,000 barrels of crude oil per day.
- The US aims to use Venezuelan oil to refill its reserves amid global energy market disruptions caused by the war involving Iran.
- Betancourt denies all accusations and has continued to run international investment firms and business ventures.
- The Venezuelan government says it retains sovereignty despite the oil deal with the US.
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