Israeli energy firm NewMed is negotiating a 60 percent stake in a Venezuelan oil company, marking its first move into South America and expanding its reach into the region’s energy resources.
Flames rise from flare stacks at the Amuay refinery in Los Taques, Venezuela, January 14, 2026. (Photo by AP)
Israeli energy firm NewMed is negotiating a 60 percent stake in a Venezuelan oil company, marking its first move into South America and expanding its reach into the region’s energy resources.
The deal would mark the Israeli firm’s first reported entry into South America’s energy sector, raising questions about the expansion of Israeli corporate interests into the region’s natural resources.
The negotiations come in the wake of the US invasion and kidnapping of Venezuelan President Nicolás Maduro on January 3, 2026, and President Donald Trump’s subsequent declarations that Washington would take control of Venezuela’s oil resources and bring in US companies to exploit its vast reserves.
The proposed deal would give NewMed access to producing oil assets and potentially additional onshore and offshore oil and gas resources, as the company seeks to extend its foreign operations beyond the eastern Mediterranean.
According to a disclosure submitted to the Tel Aviv Stock Exchange on November 10, NewMed signed a mutual exclusivity agreement with the Venezuelan company’s shareholders, establishing a framework for negotiations over the potential acquisition.
The target company holds rights to an onshore oil field containing several producing wells. The proposed transaction could also include additional oil and gas assets acquired or awarded to the company before the deal is completed.
The financial value of the proposed acquisition and the identity of the Venezuelan company have not been disclosed. The exclusivity agreement will remain in effect until January 1, 2027, allowing NewMed to conduct due diligence and negotiate binding agreements.
Completion remains subject to due diligence, the signing of definitive agreements and the necessary regulatory and shareholder approvals. The proposed acquisition has therefore not been finalized.
NewMed described the Venezuelan initiative as its first step towards exploring business opportunities in South America. The company also said it was examining further investment prospects across the continent and holding negotiations with other companies.
Niv Sarna, NewMed Energy’s chief executive, said the company was continually exploring opportunities to expand its foreign operations and create value by drawing on its expertise in developing energy assets. He described the proposed Venezuelan transaction as a significant opportunity to establish a presence in South America.
NewMed Energy is controlled by Israel’s Delek Group and has historically concentrated its operations in the eastern Mediterranean. It holds a 45.3 percent stake in the Leviathan natural gas field, alongside interests in other regional energy assets.
The proposed acquisition would mark a significant geographical expansion of NewMed’s activities, potentially giving an Israeli company a stake in Venezuela’s producing oil resources and access to further exploration and development opportunities.
The negotiations also raise broader questions about the expansion of Israeli corporate interests into resource-rich regions.
Critics of Israel’s policies in the occupied Palestinian territories and other parts of the world have raised concerns about the exploitation, coercion and the unlawful appropriation of resources and control of natural resources under the occupying regime.
The news comes less than a year after US forces kidnapped Maduro and his wife, Cilia Flores. Since then, former Vice President Delcy Rodriguez has been serving as Venezuela’s interim president.
In August, Venezuela and the Israeli regime resumed consular services after 17 years of severed ties.
Venezuela had cut diplomatic relations with Israel in 2009, under former president Hugo Chavez, over the brutal war on Gaza, dubbed Operation Cast Lead. At least 1,400 Palestinians were killed during that war.
During his presidency, Maduro refused to restore ties with Israel and firmly opposed the brutal aggression Israel launched on Gaza in October 2023.
After Maduro’s abduction, Trump said Washington will “take” Venezuela’s oil and “run” the country.
Trump also announced plans for Venezuelan oil to be transferred to the United States for refining and sale.
