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Global Business / The Economic Times

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US to take 35% stake in Venezuelan mogul Betancourt's oil venture: Report

The US government plans a 35% passive stake in Alejandro Betancourt's energy company. It also seeks preferential rights to purchase 20% of production at cost. This investment is structured through penny warrants for equity without significant capital outlay. The report follows President Trump's announcement about controlling Venezuelan oil reserves. The Pentagon spokesperson stated the OSC does not take equity stakes in private companies.

30 Aug 2026 7:24 am