nabep

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Maracaibo: 1,149 km of new pipeline and its effect on the dollar and USDT

Some news seems exclusive to the oil sector but ends up shifting the landscape where Venezuelans exchange their dollars every day. North American Blue Energy Partners’ (NABEP) replacement of 1,149 kilometers of flexible pipeline along the eastern shore of Lake Maracaibo is one such story. Not because crude oil is paid for in USDT—that’s not what happens—but because every additional barrel that comes out of that basin is another piece in the puzzle of foreign currency liquidity, which sooner or later touches the digital wallet of any user.

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NABEP bets US$100 billion on crude: implications for the dollar and P2P

North American Blue Energy Partners (NABEP) presented an expansion plan this week that, in any economy the size of Venezuela’s, would require a review of all macroeconomic projections: nearly US$100 billion to expand production capacity and fully enter the oil and gas infrastructure maintenance business, with a view to surpassing one million barrels per day in the short term.
For PitbullChain, the question isn’t whether the figure sounds big—it sounds enormous—but what part of that announcement ends up converted into foreign currency in circulation, payroll being paid, and, above all, liquidity reflected in the P2P market for USDT against the bolívar. Let’s break it down.

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NABEP adds a sixth rig: the barrel that moves the dollar and P2P

The news comes from the heart of the Orinoco Oil Belt, but its ripple effects are being felt at digital currency exchanges in Caracas, Maracaibo, and Puerto Ordaz. North American Blue Energy Partners (NABEP) confirmed the arrival of a sixth drilling rig in the country, a move that is part of a much more ambitious energy expansion plan: sixty drilling rigs, thirty steam boilers, and seventy units of heavy construction machinery over a 25-year period.

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NABEP adds two drilling rigs in Venezuela: Is P2P on the move?

📊 Two drilling rigs, a press release, and many questions in the currency market
Venezuela’s North American Blue Energy Partners (NABEP) confirmed in a press release that it received two drilling rigs in the country last week, an announcement the company presented as part of its roadmap to increase national oil production. Reuters reported the news, which was picked up by local business media.
The big news isn’t just the two drilling rigs. The company also said it is deploying 11 workover rigs with 550 horsepower, and separately acquired 60 workover units, 30 steam boilers, and 70 pieces of heavy machinery to expand its operating fleet in the country. NABEP CEO Alejandro Betancourt said that each rig arriving in the country brings them closer to their production targets and to what he described as an economic revitalization.

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NABEP and the 17 fields: Does the P2P rate change anything in Venezuela?

Once again, oil is back at the center of the country’s economic conversation. North American Blue Energy Partners (NABEP) claims it can double production in 17 Venezuelan fields and add around 300,000 barrels per day (bpd) over a period of a little more than two years. Washington supports the message: it talks about an operator with experience in complicated fields and of an agreement which, according to its spokespeople, represents a breath of fresh air for an economy battered by years of hyperinflation and almost no investment.

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WSJ: NABEP prepares to challenge Chevron for leadership in Venezuela

Oil experts predict that NABEP could increase its production by approximately 180,000 barrels per day over the next year. Chevron is not expected to increase its production at the same pace.
North American Blue Energy Partners (NABEP) reported that it has secured 60 drilling platforms, 30 steam boilers that generate hot steam to mobilize heavy oil, and 70 heavy machinery equipment units. Two drilling platforms will depart from Houston on Monday on a six-day trip to Venezuela aboard a cargo ship called BBC Washington.

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NABEP and oil: what Trump’s deal could move in Venezuelan P2P

The news that the United States acquired a 35% stake in the oil company NABEP and rights to 20% of its production at cost price has not only shaken the energy sector in Washington. For those of us who live day to day in Venezuela’s P2P market, this kind of deal is also an indicator of how many dollars could enter the country, how stable the exchange rate would remain, and how best to operate with USDT.
## The cracks in the U.S. oil industry
While Donald Trump celebrates what he considers "the greatest deal ever made," several leaders in the U.S. oil sector view the move with suspicion. They fear unfair competition: that the U.S. government itself, through NABEP, could become a de facto state oil company and sweep away negotiations that private companies had already advanced in Venezuela.

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Nabep: Betancourt retains the majority, and oil rattles the dollar

📊 Nabep, the oil company that got caught in the center of the controversy
North American Blue Energy Partners (Nabep), a company founded just in 2024 and headquartered in Barbados, confirmed this week that the entrepreneur Alejandro Betancourt’s family retains majority ownership in its shareholding. The firm is the second private oil company operating in Venezuela, only behind Chevron, and it manages significant assets in Lake Maracaibo and the Orinoco Oil Belt.
The company found itself in the eye of the storm because it was chosen to carry out the energy agreement announced at the end of August between Caracas and Washington. The deal includes 100-year concessions over 17 oil fields with estimated reserves of 65 billion barrels. The White House report that accompanied the announcement included some juicy details: Nabep transferred 35% of its parent company to the Strategic Capital Office of the U.S. Department of Defense, and the U.S. government has the right to veto at the board level, where most members must be U.S. nationals.

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NABEP takes on Chevron in Venezuela: what it means for the dollar and P2P

The Venezuelan oil-rig board has a new contender, and it certainly didn’t arrive quietly. North American Blue Energy Partners (NABEP), the company led by Venezuelan businessman Alejandro Betancourt, announced that it has already secured a considerable operating arsenal: 60 drilling platforms, 30 steam boilers to mobilize heavy crude, and 70 pieces of heavy machinery equipment. Two of those rigs left Houston aboard the cargo vessel BBC Washington, with about six days of sailing ahead until Venezuelan waters.

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Oil revenues audited by the U.S.: What will happen to P2P and the dollar in Venezuela?

## An agreement that goes beyond oil
The White House announcement about the agreement with NABEP has implications beyond energy. For those of us who closely follow the pulse of the dollar and the P2P market in Venezuela, the news raises a key question: what does it mean that oil revenues are managed and audited from the United States?
According to the official statement, any amount that NABEP assigns to PDVSA must go through an account managed by the U.S. government. In plain terms, this is a tight grip on the flow of foreign currency that has traditionally supported Venezuela's economy. And in a country where the dollar and USDT are already de facto currency, this move could reshape the board.

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Bloomberg: Venezuela repairs oil equipment in the U.S. for US$46 million

For the first time in more than a decade, Venezuela will send oil equipment to the United States for repairs. Pdvsa President Héctor Obregón signed the documents authorizing the shipment to Siemens Energy Inc.’s workshops in Houston.
Venezuela will send state-owned oil equipment to the United States for repairs for the first time in more than a decade, resuming collaboration with traditional suppliers after years of sanctions and a lack of investment.
Petróleos de Venezuela S.A. (Pdvsa) President Héctor Obregón signed the documents on October 23 authorizing the shipment of four generators and six gas compressors to Siemens Energy Inc.’s workshops in Houston, according to documents reviewed by Bloomberg.

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NYT: U.S. managed $12 billion in Venezuelan oil revenue, report reveals

NYT: U.S. managed $12 billion in Venezuelan oil revenue, secret report reveals
Between January and September of this year, the “Venezuela Custodial Account,” a mechanism created by the U.S. Treasury Department, recorded deposits of $12.26 billion.
A confidential report by global financial services firm KPMG, revealed by The New York Times, details how the U.S. government managed Venezuela’s oil revenue following the military incursion that took place last January.

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NABEP installs 1,149 kilometers of new pipes in Lake Maracaibo to clean up operations

These pipes replace the old steel lines, which have been one of the main sources of leaks that have damaged the lake for decades, NABEP said in a statement.
North American Blue Energy Partners (NABEP) has installed 1,149 kilometers of new flexible pipes along the eastern shore of Lake Maracaibo since beginning operations in that oil basin in 2024.
These pipes replace the old steel lines, which have been one of the main sources of leaks that have damaged the lake for decades. The flexible pipes, equipped with protective layers, resist the corrosion associated with old steel.

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NABEP plans to invest US$100 billion in Venezuela to increase production capacity

In a statement, the company reported that as of October 19, its production had reached 223,509 barrels of oil per day, surpassing the approximately 200,000 recorded during August.
Multinational company North American Blue Energy Partners (NABEP) expects to raise its oil production in Venezuela to more than one million barrels per day in the short term. To achieve this goal, it announced that it will invest nearly $100 billion to expand its production capacity and comprehensively improve the country's oil and gas infrastructure.

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Venezuelan crude heads to Texas: the signal the P2P market is waiting for

📊 One million barrels have already landed in Texas
On Tuesday, October 27, the first shipment of Venezuelan crude covered by the energy agreement between Washington and North American Blue Energy Partners (NABEP) was unloaded at Texas ports. The company itself confirmed the news, and Reuters reported it citing a White House official: one million barrels that the U.S. government will send to refineries operated by ExxonMobil and Citgo Petroleum, the Venezuelan-owned subsidiary. The finer detail: according to that account, the crude reached the U.S. government at no cost to taxpayers—a nuance the company later clarified to emphasize the deal’s “historic” nature.

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NABEP and oil: what does it mean for the dollar and P2P?

## NABEP’s plan: more oil, more foreign currency?
The news has shaken the energy and financial landscape: the oil company NABEP, backed by the Trump administration, plans to move more than 50 drilling platforms to Venezuela over the coming years. According to internal documents, six rigs would arrive by the end of 2026, twelve more during the following year, and two additional ones per month starting in 2028, until reaching a total of 52. This initiative aims to boost Venezuela’s battered crude oil production, which today is around 1.2 million barrels per day—far from the 2.5 million extracted in 2014.

NABEP plans to increase its oil production in Venezuela by 150% by 2028, according to Bloomberg

Increasing Venezuela’s oil production has become one of U.S. President Donald Trump’s top priorities after gasoline and diesel prices surged due to the conflict with Iran.

The energy company North American Blue Energy Partners (NABEP) plans to double its oil production in Venezuela in a little more than 2 years.

As Bloomberg reported, the oil firm expects to raise its production to 500,000 barrels of oil per day (bpd) by the end of 2028, from the 200,000 it currently produces, which means a 150% increase.

The growth of the consortium’s current production has been financed with “free cash flow,” so any external investment will help speed up the expansion, the company said in a statement sent to the international outlet.

It also indicated that the agreement signed with the U.S. government “only accelerates the trajectory” of the growth project that NABEP has in Venezuela.

One of U.S. President Donald Trump’s key priorities is to increase Venezuela’s oil production after fuel prices surged due to the conflict with Iran.

Second-largest private oil producer company
NABEP is Venezuela’s second-largest private crude oil production company, ranking behind Chevron Corp., which last week announced projects to raise its production in the country.

“Before our agreement with the U.S. government, we were already on track to maintain that momentum,” the Venezuelan energy company highlighted.

Likewise, it said that the partnership with the U.S. government and the external investment it will bring “only accelerate the path we were already following.”

#EEUU #venezuela #caracasvenezuela #petróleo #Nabep $CL $BZ

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Nabep and its 17 wells: what impact will it have on the dollar and Venezuelan P2P?

📌 More oil, more dollars? Reading from the P2P
When petroleum in Venezuela is discussed, the P2P market and the exchange rate are always on the lookout. The news that North American Blue Energy Partners (Nabep) will operate 17 wells – 9 in Zulia and 8 in the Orinoco Oil Belt – is not only a matter of energy geopolitics. For those of us who move USDT every day, any sign of an increase in crude production turns into expectations about the arrival of more foreign currency into the country.

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Reportage: Mene Grande, a poor town that swims in oil, betting its last hope on Nabep

Riches from Venezuela’s oil boom emerged in Mene Grande. Today, it is a town ravaged by power outages and poverty, and also decimated by emigration. Its residents hope to improve with the new agreement between Venezuela and the US.
In Mene Grande, the birthplace of Venezuela’s oil industry, crude oil seeps from the ground even in the yards of houses. Puffs of bubbling gases mix with the hydrocarbons that permeate the air with an odor that can cause dizziness.
More than a century after it set off an oil boom, the small town of about 27,000 people is once again in investors’ sights, raising “many expectations.”

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Analysis: Can NABEP double oil production at the 17 Venezuelan fields?

U.S. government officials said that the company North American Blue Energy Partners (NABEP) is a proven operator that knows how to increase oil production.
The oil agreement recently signed by Venezuela and U.S. authorities is focused on fields that are “aging, degraded, or whose access is costly.”
According to Bloomberg, the energy company North American Blue Energy Partners (NABEP) has said it aims to double oil production at the 17 fields by adding about 300,000 barrels of oil per day (bpd) over more than 2 years.