The family of Alejandro Betancourt, a Venezuelan businessman known for his complex and sometimes controversial business dealings, announced on Wednesday, September 16, that they would keep a majority ownership in a company called Nabep. Nabep has been chosen to oversee a historic oil agreement that includes the United States acquiring a 20 percent interest in Venezuela’s massive oil reserves. This agreement marks a significant shift in the long-standing relationship between the two nations, which has been strained for years due to political and economic tensions. The deal, which has drawn attention from international observers, aims to bring more stability to Venezuela’s oil sector, which has been plagued by mismanagement and underinvestment. The United States’ involvement represents a rare instance of cooperation between the two countries on a major economic issue, despite their differing political ideologies and past conflicts. Details about the agreement were shared by Matthieu Mabin, a correspondent for France 24 based in Washington. Mabin noted that the deal could have far-reaching implications, not only for Venezuela’s economy but also for global oil markets. The involvement of Betancourt’s family in Nabep adds another layer of complexity, given his history of business ventures and political connections in both Venezuela and abroad. The agreement is expected to be finalized in the coming weeks, with negotiations focusing on the terms of U.S. participation and how the oil reserves will be managed. While the deal could provide Venezuela with much-needed investment and technical expertise, it also raises questions about how the profits will be distributed and whether the arrangement will truly benefit the Venezuelan people.