Tag: CITGO

• Saturday, August 17th 2019 - 09:13 UTC

  Maduro and Guaidó fight for the Venezuelan prized Citgo refineries in the US

  

  The government of President Nicolas Maduro on Thursday nullified the newly named board of Venezuela’s prized Citgo refineries in the U.S. amid a political battle for control of the country, saying opposition leaders had no right to appoint them.

• Wednesday, July 31st 2019 - 09:46 UTC

  Maduro and Guaidó desperate: Venezuela on the verge of losing Citgo to an arbitration award

  

  Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.

• Saturday, April 20th 2019 - 09:26 UTC

  Venezuelan opposition prepared to pay US$ 71 million bond interests to save Citgo from seizure by creditors

  

  Venezuela's opposition-controlled National Assembly expects to vote on making a US$71 million bond interest payment when it meets next week, a lawmaker and a member of state-run oil company PDVSA's ad-hoc board of directors said.

• Saturday, April 6th 2019 - 09:20 UTC

  US blacklists PDVSA tankers and two companies shipping Venezuelan oil to Cuba

  

  US Vice President Mike Pence announced sanctions on Friday on 34 vessels of Venezuela's state oil company and two companies that ship crude to Cuba as Washington pushes to oust President Nicolas Maduro.

• Wednesday, January 30th 2019 - 10:01 UTC

  Guaidó plans to name new boards of directors at PDVSA and Citgo

  

  The President of Venezuela’s opposition-dominated National Assembly Juan Guaido will announce new boards of directors for state oil company PDVSA and its U.S. business, Citgo, according to opposition leader sources.

• Wednesday, January 30th 2019 - 09:46 UTC

  Russia and China criticize US sanctions on Venezuela: “they undermine confidence in the international financial system”

  

  Russia and China strongly criticized U.S. sanctions placed on Venezuela, with the former pledging to support the beleaguered President Nicolas Maduro. Russian Foreign Minister Sergei Lavrov said on Tuesday the sanctions completely undermined confidence in an international financial system that is dominated by the U.S., Russian news agency Interfax reported.

• Tuesday, January 29th 2019 - 09:03 UTC

  US tightening the noose: Venezuelan oil proceeds will be withheld from Maduro's government

  

  The US has imposed sanctions on Venezuela's state-owned oil firm PDVSA and urged the country's military to accept a peaceful transfer of power. National Security Adviser John Bolton said President Nicolás Maduro and his allies could “no longer loot the assets of the Venezuelan people”. Efforts by the opposition to unseat Mr Maduro have increased in recent days.

• Monday, November 26th 2018 - 07:32 UTC

  Venezuela complies with court order and pays for Canadian company nationalized assets

  

  Cash-strapped Venezuela settled a US$1.2 billion arbitration claim that will prevent a creditor from stripping away its crown jewel foreign asset, the U.S.-based Citgo Petroleum Corp refining business, according to Canadian court documents.

• Monday, August 13th 2018 - 18:53 UTC

  Venezuela appealing US$ 1.4bn compensation ruling, threatening Citgo

  

  Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a 10 year dispute over the state takeover of Crystallex assets, a court filing shows.

• Saturday, August 26th 2017 - 08:17 UTC

  Maduro reacts to Trump's sanctions: “we will sell our oil to other markets”

  

  Venezuela's President Nicolás Maduro has said that a preliminary analysis shows that new financial sanctions imposed by the United States will lead to a halt in oil exports to the US. President Trump's order bans trade in Venezuelan debt and blocks its state oil firm from selling bonds in the US.