US Democrats Press Rubio on Venezuelan Tycoon’s Role in Oil Deal
Key Facts
Washington’s new oil partnership in Venezuela runs through a businessman who has been investigated in three countries. Democrats in Congress now want to know how he got there and who helped him.
Representatives Robert Garcia, Gregory Meeks and Jared Huffman wrote to Secretary of State Marco Rubio on 17 September 2026. The letter, also sent to Attorney General Todd Blanche, questions the role of Venezuelan businessman Alejandro Betancourt, Efecto Cocuyo reported.
Why This Matters
After Nicolás Maduro’s arrest in January, the Trump administration moved to take a direct role in Venezuelan oil. Under a deal announced in late August, the US would take a 35% stake in North American Blue Energy Partners.
That company, known as NABEP and led by Betancourt, would give the US preferential rights to buy 20% of production. The deal covers 17 oil fields with estimated reserves of 65 billion barrels, Efecto Cocuyo reported.
What the Democrats Want
The three are the top Democrats on the House oversight, foreign affairs and natural resources committees. Their press release says the administration has shared few details on its handling of at least $13 billion in Venezuelan oil revenue.
Efecto Cocuyo, a Venezuelan news site, reported that they asked for a list of everyone involved in the negotiations. They also want details on the roles of Betancourt and Mauricio Claver-Carone, a former informal US envoy.
The letter seeks records of any US interventions with foreign governments over investigations into Betancourt. Congress “has a right to know who the president has chosen to conduct business with”, the lawmakers wrote.
Meeks asked why Betancourt “is being treated as a business partner instead of the subject of a law enforcement investigation”. Huffman said handing him a stake in another nation’s oil “is exactly how the Trump administration does business”.
Who Alejandro Betancourt Is
Betancourt, 46, runs Venezuela‘s second-largest private oil producer, according to Efecto Cocuyo. He has faced investigations in the US, Switzerland and Spain over alleged laundering of funds from PDVSA, the state oil company.
Axios reported that he was never charged in a 2019 US inquiry into an alleged $1.2 billion laundering scheme. It also reported that US officials, including then-Attorney General Pam Bondi, asked Switzerland in 2026 to pause its case.
What Is Not Yet Known
Neither the State Department nor Betancourt had responded to the letter in the reports reviewed. Rubio said on 2 September that no US investigation into Betancourt existed, Infobae reported.
Semafor noted that Democrats could issue subpoenas only if they win control of the House. It is unclear whether the Swiss case against Betancourt remains paused.
Frequently Asked Questions
Who is Alejandro Betancourt?
He is a Venezuelan businessman who leads North American Blue Energy Partners. He has been investigated for alleged money laundering but has not been convicted.
What does the US get from the Venezuela oil deal?
A 35% stake in NABEP and preferential rights to buy 20% of its output. The deal covers 17 oil fields.
Sources: Efecto Cocuyo, Democrats demand answers from Rubio, House Oversight Democrats, press release on the letter, House Foreign Affairs Democrats, the ranking members’ statements, Semafor, Democrats press State and DOJ on the oil deal, Efecto Cocuyo on Axios, Betancourt’s background, Infobae, Rubio defends the NABEP deal
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times