7 months ago
Venezuela's Petty's Island May Transfer to Trump Donor
Petty’s Island is a 300-acre island in New Jersey that has been owned by Venezuela through Citgo Petroleum Corp.
for decades.
Recently, a court approved a deal for Paul Singer’s Elliott Investment Management to take over Citgo, which could mean they also gain control of Petty’s Island.
Venezuela has appealed the sale, but with recent political changes, it's likely the deal will go through.
The island has historical significance and has been visited by famous figures like Blackbeard and Benjamin Franklin.
Public access to the island is currently limited.
Petty’s Island, a 300-acre island in New Jersey, is currently owned by Venezuela through Citgo Petroleum Corp.
A court approved a $5.9 billion bid by Paul Singer’s Elliott Investment Management to acquire Citgo, potentially giving them control of Petty’s Island.
Venezuela has appealed the sale, calling it fraudulent, but recent political developments may influence the outcome.
The island has historical significance and has been visited by notable figures like Blackbeard and Benjamin Franklin.
Public access to Petty’s Island is currently limited to scheduled programs.
- Who
- Venezuela, Paul Singer’s Elliott Investment Management, US Government
- What
- Potential transfer of ownership of Petty’s Island from Venezuela to Elliott Management
- Where
- Petty’s Island, Delaware River, New Jersey
- When
- Recent international events and a court ruling in November 2025
- Why
- To settle billions in debts and due to recent political developments in Venezuela
Key facts
- Island Size
- 300 acres
- Location
- Delaware River, off Pennsauken, New Jersey
- Current Owner
- Venezuela through Citgo Petroleum Corp.
- Potential New Owner
- Paul Singer’s Elliott Investment Management
- Bid Amount
- $5.9 billion
- Historical Visitors
- Blackbeard the pirate, Benjamin Franklin
- Public Access
- Limited to scheduled programs
Quotes
Amber Energy spokesperson
Spokesperson for Amber Energy, an affiliate of Elliott Investment Management
“The transaction involving Citgo has not yet been completed.”
wionews.com
Gregory Goff
CEO of Amber Energy
“We look forward to working with the talented CITGO team to strengthen the business through capital investment and operational excellence.”
wionews.com
Donald Trump
President of the United States
“We're going to have our very large US oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country.”
wionews.com
