Why It Matters

Ballard Partners LLC has reported more than $200,000 in lobbying fees from Maha Capital for work related to Venezuelan oil acquisitions and operations amid changes to U.S. sanctions policy. ​

The firm, which has represented Maha Capital since at least the first quarter, filed a registration amendment on Oct. 8 listing no new lobbying issues or legislation. Its earlier lobbying activity focused on approvals for Venezuelan oil field acquisitions and operations under the Energy/Nuclear (ENG) and Foreign Relations (FOR) issue areas.

By the Numbers

The first-quarter report disclosed $120,000 in lobbying fees, and the second-quarter report disclosed another $120,000, for a total of $240,000. The four named lobbyists are Brian Ballard, president; Micah Ketchel, partner; Scott Wagner, partner; and Thomas Boodry, partner.

Broader Context

Reuters reported in January that Maha Capital, a Swedish investment firm, was seeking U.S. approval to acquire an indirect minority stake in PetroUrdaneta, a Venezuelan oil company controlled by state-owned PDVSA.

In March, Maha announced it had exercised an option to acquire a 24% indirect stake in PetroUrdaneta following the Treasury Department's issuance of General License 52, which authorized certain transactions involving PDVSA. The company subsequently increased its stake to 40%, according to Reuters.

Reuters reported in February that the United States eased sanctions on Venezuela's energy sector, issuing general licenses allowing some companies to resume operations while certain new investments remained subject to separate authorization.

Ballard Partners also filed registrations for Ocean Energy Services Inc., Calistoga Energy Reserves LLC and Aldyl Energia CA. Those filings list no issue areas, and their connection to energy policy cannot be established from the company names alone.

The Bottom Line

Ballard Partners has represented Maha Capital in lobbying related to Venezuelan oil approvals since at least the first quarter, reporting $240,000 in fees through June. The October amendment updates the registration without disclosing additional lobbying issues or legislation.

Access the Legis1 platform for comprehensive political news, data, and insights.

Spot something wrong? Report an issue with this article