US clinches century-long access to Venezuela’s oil reserves

Washington unveiled a landmark deal in which NABEP would operate 17 Venezuelan oil fields under 100-year concessions; in return the US gains a 35% equity stake in NABEP’s parent and the right to buy 20% of current and future output under US law, with veto power over board appointments. NABEP commits up to $100 billion in investment and about $200 billion in royalties/taxes over 25 years. The arrangement, framed as a Monroe Doctrine reaffirmation, has drawn industry skepticism and congressional scrutiny, with signatures expected soon and questions about legal certainty and sovereignty still unresolved.