The Daily Journal. — Ballard Partners, one of the leading lobbying firms in the United States and one that has seen its revenue surge during President Donald Trump’s second term, announced Wednesday that it will open an office in Caracas, as U.S. companies and multinational corporations show renewed interest in investing in Venezuela.
Scott Wagner, a partner at the firm, will lead the Caracas office. According to federal lobbying records cited by Reuters, his clients have included the Venezuelan shipping company Vale Maritimo and the Swedish investment platform Maha Capital.
Maha Capital, which changed its name to KEO Capital in June, hired Ballard Partners in January to advocate before U.S. authorities on matters related to “approvals for acquisitions and operations involving Venezuelan oil fields,” according to those federal records.
The company also announced that it increased its indirect ownership stake in the Venezuelan oil company PetroUrdaneta from 24% to 40%.
“Venezuela stands at the threshold of one of the hemisphere’s most significant economic openings in a generation,” Wagner said in a statement cited by Reuters.
Renewed interest in Venezuela’s oil sector
Ballard Partners’ decision to open an office comes amid growing interest from U.S. and multinational oil companies in Venezuela and its crude oil reserves.
According to Reuters, several companies have expressed interest in the country this year after the United States removed President Nicolás Maduro from power during a military operation on January 3. Trump has encouraged oil companies to invest $100 billion in Venezuela and help rebuild the country’s energy sector.
A permanent office in Caracas would allow Ballard Partners to expand its representation and advisory services for companies seeking to enter or expand their operations in the Venezuelan market, particularly in the energy and natural resources sectors.
Ballard tripled its revenue during Trump’s second term
Ballard Partners has experienced significant growth since Trump returned to the White House.
The firm, which employed Pam Bondi before Trump appointed her as Attorney General during his second term, increased its federal lobbying revenue by 300% over the past year, reaching $88.3 million, according to data cited by Reuters.
That figure surpassed the previous annual revenue record for a single lobbying firm, which stood at $67.8 million, according to OpenSecrets. This nonprofit organization tracks political financing and lobbying activities in the United States.
U.S. federal law requires lobbyists to disclose their clients and file quarterly reports detailing their lobbying revenue.
Ballard Partners opened its Washington office in 2017, following Trump’s first presidential election victory. The firm’s president, Brian Ballard, served as one of the Republican Party’s leading fundraisers in Florida, including for Trump’s 2016 presidential campaign.
With reporting from Reuters.
