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Venezuelan oil is drawing an unlikely alignment of buyers. President Trump announced last week that the U.S.
government would take a 35% equity stake in North American Blue Energy Partners, the Venezuelan oil producer known as BABEP.
A billionaire Coinbase founder is also reportedly seeking a position in the same market, alongside Chevron and Italian energy company ENI. government stake is the structural fact that frames every other bid here.
A sovereign stakeholder of that size in a Venezuelan producer is not a standard capital arrangement, and it raises questions about what terms co-investors would negotiate and what regulatory posture Washington's direct equity position implies for cross-border activity in the sector.
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