Commodities

Brazil’s Billionaire Batistas Poised for Venezuelan Oil Revival

Wesley Batista, left, and his brother Joesley Batista, right, with their parents, Jose Batista Sobrinho and Flora Mendonca Batista on the floor of the New York Stock Exchange on June 25.Photographer: Michael Nagle/Bloomberg

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By Fabiola Zerpa, Peter Millard, and Mariana Durao

January 18, 2026 at 4:00 PM UTC

The billionaire Batista brothers are eyeing a billion-barrel Venezuelan oil project that stands to benefit from US President Donald Trump’s planned revival of the South American nation’s energy sector.

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