The potential investment would rank among the first major private bets on Venezuela’s oil sector since the United States began easing sanctions.
Lionheart Capital is reportedly close to a $400 million deal to acquire a stake in a Venezuelan oil field. If completed, the transaction could become one of the first major private investments in Venezuela’s energy industry since the United States began easing sanctions, a shift that has reopened the possibility of outside capital returning to the country’s oil sector.