Trump’s Venezuela oil project aims to increase production by 150% by 2028

The US government-backed Venezuelan oil producer, North American Blue Energy Partners (NABEP), plans to more than double its crude oil output in just over two years, as part of the Trump administration's push to boost the South American country's production. The company currently produces around 200,000 barrels per day and aims to increase output to 500,000 barrels per day by the end of 2028, with funding to come from internal cash flow. Some analysts view NABEP's plan as ambitious, raising concerns about the company's service side and the potential need to raise additional funds to support the expansion.