A New Jersey island owned by a branch of Venezuela’s national oil company may soon be taken over by a loyal Donald Trump supporter.
Petty’s Island, a 300-acre island in the Delaware River with sweeping views of Philadelphia, has been owned by Citgo Petroleum Corp for decades.
Citgo is the Houston, Texas-based refining arm of Venezuela’s state-owned Petr贸leos de Venezuela (PDVSA).
In late November of last year, a federal judge in Delaware approved a $5.9 billion bid from Amber Energy to buy PDVSA through a sale of shares to settle billions in debt, The Philadelphia Inquirer reported.
Amber Energy is an affiliate of Elliott Investment Management, which was founded by Paul Singer.
Singer and his firm have donated tens of millions to conservative political causes, including Trump’s 2024 presidential campaign.
Petty’s Island, part of Pennsauken township, was originally inhabited by the Lenni Lenape Native American tribe, according to The Encyclopedia of Greater Philadelphia.
The land, which the Lenape called Aequikenaska, was later farmed by Quakers, starting around the 17th century.
It was once owned by William Penn, the founder of Pennsylvania, and its notable visitors included Benjamin Franklin and the pirate Edward Teach, better known ad Blackbeard.
Petty’s Island is named after John Petty, a Philadelphia merchant, who bought the land in 1732.
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