{
  "id": 6013228,
  "title": "Venezuela: Cisneros Heirs Say State Seized Oil Stake",
  "url": "https://urgent.news/2026/09/06/venezuela-cisneros-heirs-say-state-seized-oil-stake",
  "topic": "world",
  "section": "World",
  "published": "2026-09-06T17:32:00.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/venezuela-cisneros-heirs-petrodelta-stake-seized-2026/"
  },
  "original_language": "en",
  "account": "The Cisneros heirs claim that Venezuela has seized their 40% stake in Petrodelta, an important oil venture. The family's losses amount to approximately US$2 billion in terms of rights and investments. This loss would end the Cisneros heirs' role in Venezuelan oil, a rare private stake. The connection between Delcy Rodriguez, the interim president of Venezuela, and the Trump administration is merely a claim by a single source, yet to be confirmed. The Cisneros heirs are a separate branch of the Oswaldo Cisneros family, which has no involvement in the media empire operated by Gustavo Cisneros. Oswaldo Cisneros Fajardo, a cousin of Gustavo, built his businesses in telecom and bottling, separate from the Grupo Cisneros. The family holds their oil assets through a Dutch firm, DP Delta Finance B.V., which owns 40% of Petrodelta, a joint venture with Venezuela's state oil company PDVSA. PDVSA holds the remaining 60%. The stake was acquired in 2016 from Harvest Natural Resources, a Texas company. The news of the seizure was reported by El Espanol and other sources, who suggested that the process was driven by Delcy Rodriguez's government with the support of the Trump administration. However, these claims have not been independently confirmed by major international outlets. The Cisneros heirs allege that the Venezuelan government revoked their rights due to non-compliance with investment and production plans. The revocation is said to have taken place in early 2026, and the assets were subsequently reassigned to Pacific Coast Energy Co., a U.S. firm. The six affected oil fields are El Salto, Temblador, Uracoa, Isleno, Bombal in Monagas state, and Tucupita in Delta Amacuro. The rights cover drilling in the Orinoco Belt, an area of heavy crude oil, but the fields are located in a different region. The loss amounts to about US$2 billion, including US$700 million from already produced crude and US$100 million in unpaid services through March. The family has not announced any legal action, and their complaint has only been made through press statements. Pacific Coast Energy Co., the U.S. firm that received the assets, is a California-based operator with a history in heavy crude. They were led by CEO Klaus Hasbo and had raised about US$800 million before the deal. The connection between the Trump-Rodriguez oil pact and the Cisneros loss is not confirmed by other sources. Trump announced a deal granting the U.S. control over 65 billion barrels of proven reserves in Venezuela, while Delcy Rodriguez defended the deal, claiming it would generate over US$209 billion yearly for Venezuela. However, critics argue that the deal transfers national wealth to a foreign power, while supporters see it as a necessary measure to revive Venezuela's oil industry.",
  "summary": "The Cisneros heirs, a branch of Venezuela's famous Cisneros family, say the government seized their oil stake. A Spanish report links the move to Delcy Rodriguez and the Trump administration, but that link is not confirmed. The post Venezuela: Cisneros Heirs Say State Seized Oil Stake appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}