Backed by a historic prior gas export agreement valued at $35 billion and covered by Forbes Middle East, the company has the financial muscle needed to complete this strategic acquisition and gain a foothold in Venezuela’s oil industry.
Israeli firm NewMed Energy is moving forward with negotiations to acquire a 60% stake in an oil company with onshore operations and active wells in Venezuela, according to regulatory filings reported by financial platforms such as TradingView, Reuters, and MarketScreener.
This deal marks the company’s first concrete step toward expanding into South America and diversifying its hydrocarbon portfolio beyond its successful management of the Leviathan offshore gas field in the eastern Mediterranean.
The market reacted favorably to the news, driving NewMed shares up more than 3.6% on the Tel Aviv Stock Exchange, a capital movement that coincides with the recent update to a $200 million credit line reported by Ad-Hoc-News.
Although the parties are keeping the transaction amount and the name of the local company confidential, the initiative highlights NewMed’s search for new geopolitical horizons—a strategic necessity accelerated after Emirati investments were suspended in 2024 as a result of the war in Gaza, as documented by Al-Monitor.