White House Details Venezuela Oil Deal; Commerce Changes Entry Treatment Across Four AD/CVD Matters

White House discloses the ownership and off-take structure of the Venezuela oil deal

The White House says Venezuela’s interim authorities granted privately held North American Blue Energy Partners (NABEP) 100-year concessions for 17 fields containing about 65 billion barrels of proved reserves. NABEP in turn granted the U.S. Department of War’s Office of Strategic Capital a 35% equity stake in its corporate parent. The State Department received a right to buy 20% of output at production cost and a right of first refusal on the remaining 80%. NABEP’s plan calls for up to $100 billion in Venezuelan oil-infrastructure investment. White House, August 31.

Reuters separately reported the 35% stake, 20% at-cost off-take and first-refusal structure, while noting uncertainty among energy companies and lawyers over legal authority, project selection and commercial execution. The fact sheet does not publish a production start date, a near-term import volume, field-by-field contracts, or the transaction documents that would let counterparties test each legal term. Reuters deal report · Reuters structure analysis.

Thai spray-foam systems enter a country-wide circumvention inquiry

Commerce cases A-570-168 and C-570-169 · Applicable September 1, 2026

Commerce initiated a country-wide inquiry into the “B-side” ester-containing component of spray-foam systems completed or assembled in Thailand using Chinese-origin alkyl phosphate esters. The inquiry asks whether those products circumvent the China alkyl phosphate ester AD/CVD orders. It is an initiation—not an affirmative circumvention determination—and Commerce’s ongoing scope inquiry still must determine whether the relevant spray-foam components fall within the orders’ scope. Commerce notice, 91 FR 56114.

The notice nevertheless has immediate entry consequences. Commerce will tell CBP to continue suspension for unliquidated covered entries already suspended under the orders and apply the deposit rate that would apply if the products were covered. If Commerce later reaches an affirmative preliminary or final finding, entries not already suspended that were entered or withdrawn for consumption on or after September 1 can be brought into suspension and deposit coverage; the rules also permit instructions reaching earlier unliquidated entries in specified circumstances. Suspension-of-liquidation provisions.

Enriched nitrogen-15 ammonium sulfate moves outside the China orders

Commerce scope ruling · Applicable August 22; published September 1, 2026

After the Court of International Trade sustained Commerce’s remand, Commerce amended its scope ruling to find Cambridge Isotope Laboratories’ enriched ¹⁵N ammonium sulfate isotope outside the China ammonium sulfate AD/CVD orders. Pending any appeal, Commerce will instruct CBP to use a 0% cash-deposit rate for that isotope. If the judgment becomes conclusive, Commerce will direct liquidation without AD/CVD and lift suspension for the affected isotope entries. Commerce notice, 91 FR 56120.

Thai pipe deposits fall to zero for two companies; China magnesium margin drops to 23.96%

The Thai pipe review covers March 1, 2024–February 28, 2025. Its 0% results apply to Saha Thai Steel Pipe Public Co., Ltd. and Thai Premium Pipe Co. Ltd.; they do not erase the 15.67% all-others rate or another firm’s established rate. Thai pipe final results, 91 FR 56132.

For pure magnesium, the Court of International Trade sustained a remand using Turkish national-average industrial electricity rates as the surrogate value. Commerce therefore amended the margin for Tianjin Magnesium International Co., Ltd. and Tianjin Magnesium Metal Co., Ltd. (collectively MMC) to 23.96%, applicable August 14. Magnesium amended results, 91 FR 56126.

Actions for importers, brokers and trade-compliance teams

1. Separate the oil announcement from transaction authority. Record the disclosed ownership and off-take terms, but do not change sanctions, payment or customs controls until the governing contracts and applicable authorizations are verified.
2. Map Thai spray-foam exposure immediately. Identify B-side systems, Chinese ester inputs, manufacturers, suppliers and entry dates; preserve bills of material and country-of-origin evidence; and confirm the case-specific deposit instruction before filing.
3. Segregate enriched ¹⁵N isotope entries. Match specifications to the ruling and monitor CBP instructions. Do not extend the 0% treatment to ordinary ammonium sulfate.
4. Update exporter–producer rate logic, not country defaults. Set Saha Thai and TPP to 0.00% for qualifying September 1-and-later entries while preserving company-specific and 15.67% all-others logic for other Thai pipe shipments.
5. Flag MMC magnesium entries for revised instructions. Use 23.96% only in accordance with the CBP deposit instruction and keep the 2022–2023 entry population separated from current deposits and protected by the court injunction.

What to watch next

• Venezuela oil: publication of the government-to-government agreement, concession or corporate instruments; OFAC or other implementing authorizations; field-by-field operators; financing; and a credible production/import schedule.
• Thai spray foam: the ongoing scope ruling, quantity-and-value questionnaires, respondent selection and any preliminary circumvention determination. Commerce says it intends a preliminary decision within 150 days and a final within 300 days, unless rescinded or extended. Inquiry timetable.
• Isotope and magnesium: appeals and corresponding CBP deposit or liquidation instructions. A Timken notice changes the treatment described by Commerce but does not itself make every historical entry final.
• Thai pipe: assessment instructions and any injunction request filed within the post-publication court window.

Questions and answers