NewMed considers oil production in Venezuela
Israeli NewMed Energy announced it is examining the acquisition of 60% of an oil production company in Venezuela, which holds oil fields with producing wells. The move is made possible following the capture of former President Maduro by the US and Venezuela's opening to foreign companies.
Israeli NewMed Energy, controlled by the Delek Group of Yitzhak Tshuva and holding about 45% of the Leviathan reservoir, announced it is examining the acquisition of 60% of a local oil production company in Venezuela. The Venezuelan company holds oil fields with producing wells on land and oil and gas assets on land and sea. NewMed signed a mutual exclusivity letter and a principles appendix, with the exclusivity period lasting until January 1, 2027. The move is made possible following the capture of former Venezuelan President Nicolás Maduro by the US in early 2026, which led to the country opening up to foreign oil companies. Analyst Lior Vider noted that the deal could be a significant growth engine but involves geopolitical and regulatory risk. NewMed CEO Niv Sarna stated that the company is examining opportunities to expand international operations while leveraging its accumulated capabilities.