Delcy Rodríguez and Chris Wright defend oil alliance with Alejandro Betancourt’s Nabep

Delcy Rodríguez and U.S. Energy Secretary Chris Wright have defended bringing North American Blue Energy Partners, or Nabep, into the latest oil agreement between Venezuela and the United States.

At a news conference at the Miraflores Palace, the two officials faced questions about judicial investigations into Venezuelan businessman Alejandro Betancourt, who owns the company, over alleged money-laundering schemes linked to Pdvsa.

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In business, we often say that it is not only about choosing the right words or giving a good speech, but about showing results, and the company that has shown decisive results in Venezuela is this one.

Wright said Nabep had demonstrated strong production results in Venezuela during the period of economic sanctions. “In business, we often say that it is not only about choosing the right words or giving a good speech, but about showing results, and the company that has shown decisive results in Venezuela is this one,” he said.

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It was producing in Venezuela even under very harsh sanctions, so I agree with the secretary that, in making the selection, they chose the second-best producer Venezuela had.

He described the oil partnership with Venezuela as “a project of massive dimensions” for the country’s industry. The agreement, he said, aims to accelerate economic activity, contain inflation and improve families’ quality of life.

Rodríguez defended Nabep on similar grounds. “It was producing in Venezuela even under very harsh sanctions, so I agree with the secretary that, in making the selection, they chose the second-best producer Venezuela had,” she said. She argued that the company’s operating record justified its inclusion in a deal intended to increase crude extraction from fields with reserves estimated at billions of barrels.

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A project of massive dimensions

Rodríguez said renewed resource-development projects were needed to finance public education, equip hospitals and improve workers’ purchasing power. Addressing Betancourt’s legal situation, she said a criminal case opened by Venezuela’s prosecutor in 2022, along with investigations in Swiss and Spanish courts, had ended with a final dismissal. “Many times a person is tried in the media before being tried in the courts,” she said, while criticizing coverage of the businessman’s case.

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Many times a person is tried in the media before being tried in the courts.