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Analysis-Citgo may face new upheaval under Venezuela’s political changes By Reuters

by OTC Stockz
December 31, 2022
in Stock Market
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Analysis-Citgo may face new upheaval under Venezuela’s political changes By Reuters
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© Reuters. FILE PHOTO: Citgo Petroleum refinery is pictured in Sulphur, Louisiana, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo

By Marianna Parraga

HOUSTON (Reuters) – Oil refiner Citgo Petroleum could face supervisory board shakeups leading to a review of its plans following Friday’s vote by Venezuela’s opposition-led National Assembly to dissolve an interim government and appoint a commission to oversee the country’s foreign assets, including Citgo.

Venezuela-owned Citgo, a unit of state oil company PDVSA, since 2019 has been run by boards appointed by a Congress led by opposition chief Juan Guaido, whom Washington has recognized as Venezuela’s legitimate leader and who was ousted on Friday.

Citgo did not immediately reply to a request for comment.

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