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Venezuela oil deal puts spotlight on Alejandro Betancourt Lopez
The US arrangement gives North American Blue Energy Partners oversight of 17 Venezuelan oil fields holding about 65bn barrels of crude, according to the deal described by BBC Business.
President Donald Trump has described a deal that grants the US control of strategic Venezuelan oil fields as the biggest in history, with North American Blue Energy Partners (Nabep) set to oversee production and sales.
BBC Business says Nabep, a company that is relatively little known outside Venezuela, will manage 17 oil fields containing about 65bn barrels of crude, and that the deal centers on Alejandro Betancourt López, the Venezuelan oil executive who heads the Barbados-registered firm.
The outlet reports that Betancourt, 46, has a business history with Venezuela dating back to the era of late President Hugo Chávez, but has also faced investigations in five different countries. Betancourt has denied wrongdoing and, BBC Business says, has never been convicted.
BBC Business adds that Betancourt is estimated to be worth around $2.6bn, and that his career has drawn scrutiny tied to earlier government contracting and allegations of favoritism without competitive bidding.
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