Venezuelan Opposition Leader Condemns U.S.-Venezuela Oil Deal

By David Okafor

Venezuelan opposition leader María Corina Machado has publicly criticized the recent U.S.-Venezuela oil agreement, specifically targeting Alejandro Betancourt, a key partner in the deal, as corrupt. Machado's remarks add to the growing controversy surrounding the agreement brokered by the Trump administration.

The deal, announced by the White House in August 2026, involves North American Blue Energy Partners (NABEP) receiving 100-year concessions to 17 Venezuelan oil fields, which contain more than 65 billion barrels of proven reserves. The U.S. secured a 35% equity stake in NABEP and rights to 20% of oil off-take at production cost, with the option to purchase the remaining 80%.

Machado has condemned the legitimacy of the deal, arguing that Venezuela's natural resources should not be controlled by what she describes as an illegitimate regime. Her criticism aligns with concerns raised by U.S. Senate Democrats, who have demanded answers from key Trump administration officials regarding the potential risks of the deal, including its impact on Venezuela's democratic transition and the possibility of enabling corruption.

The Trump administration, however, has framed the agreement as a strategic win for American energy security and a boost for Venezuela's economic recovery, bypassing actors aligned with Nicolás Maduro's regime.