Investment firms join Donald Trump’s $100bn race for Venezuelan oil

Lionheart Capital and Keo Energy launched a Nasdaq-listed company on May 22, 2024, to pursue Venezuelan oil and gas assets. This venture is part of a broader effort, reportedly involving Donald Trump, to invest up to $100 billion in the South American nation's energy sector. The newly formed entity aims to leverage opportunities arising from potential sanctions relief and the restructuring of Venezuela's state-owned oil company, Petróleos de Venezuela, S.A. (PDVSA). Sources indicate that the initiative seeks to capitalize on Venezuela's vast, largely untapped reserves, which are estimated to be among the largest in the world. The investment strategy anticipates a significant increase in oil production and exports, contingent on political stability and regulatory changes within Venezuela. Lionheart Capital, known for its diverse investment portfolio, and Keo Energy, an energy-focused firm, are positioning themselves to be key players in this potential energy renaissance. The move signals a growing international interest in Venezuela's oil sector, which has been hampered by years of underinvestment and sanctions.