US firm takes charge of Venezuelan oil and gas

Direct role: Tankers anchor near a PDVSA terminal in Puerto La Cruz. A new US-Venezuela oil arrangement gives American firms a foothold in strategic energy assets, marking a major shift in who runs the country’s energy sector. — Reuters

WASHINGTON: US oil company North American Blue Energy Partners (NABEP) will take over some oilfields previously controlled by several Chinese companies and a Russian firm, two US officials say.

The takeover will be part of a sweeping oil production agreement that President Donald Trump announced with Venezuela, they said.