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Two Citgo oil executives detained for nearly five years in Venezuela have sued their former employer for more than $400 million, alleging it conspired to lure them to the South American country ...
Venezuela's opposition has no plans to use funds belonging to U.S. refiner Citgo, which is owned by state oil company PDVSA, despite having named a new board for the company this week, the self ...
A CITGO station in Chicago with the new street image. Fifty percent of Citgo was sold to Petróleos de Venezuela, S.A. (PDVSA) in 1986, which acquired the remainder in 1990, resulting in the current ownership structure.
Members of Venezuela's political opposition and the boards that supervise state-owned refiner Citgo Petroleum have met U.S. officials and lawmakers in recent days in a new effort to pause a court ...
CITGO. An auction of shares in a Citgo Petroleum parent company to repay some $21 billion in claims for debt defaults and expropriations by Venezuela and PDVSA is set to be reorganized after a ...
In April 2020, was appointed by Nicolás Maduro to run the troubled state-run oil company Petróleos de Venezuela, S.A. (PDVSA). [1] He is the former president of Citgo, a subsidiary of Venezuela's state oil company PDVSA. [2] He has served as deputy to the National Assembly of Venezuela and Minister of Petroleum and Mining.
With the onset of the Crisis in Venezuela, the country borrowed 1.5 billion dollars from Russia, offering 49.9% of PDVSA's share in Citgo as collateral. [51] In October 2018, PDVSA paid $949 million on its Citgo backed bond to investors, a payment many analysts thought was impossible for the company given its recent liquidity struggles. [52]
The Venezuelan government on Wednesday objected to what it called an "arbitrary decision" by a U.S. court that approved a calendar for auctioning shares in the parent of Houston-based refiner ...