HMM: Pentagon Will Own 35% Of Venezuela Oil Venture, White House Reveals.

The announcement comes three days after Trump unveiled the agreement without naming the private partner or the terms of the deal. The Pentagon’s Office of Strategic Capital (OSC) will hold the 35% ownership stake in the venture while the State Department will also hold the right to buy 20% of the venture’s output at cost and the right of first refusal on the rest, according to a Monday fact sheet from the White House.

The Trump administration identified the partner in the deal as North American Blue Energy Partners (NABEP) — a Venezuelan-owned firm that is the country’s second-largest oil operator behind Chevron.

State ownership doesn’t usually go very well.