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Stronger Interest in Citgo Asset Sale

OIL

More companies have shown interest in Venezuela’s US based Citgo asset sale according to Reuters sources. The first-round bidding is set to close Monday.

  • The auction of its assets, forced by US court action, is to help cover outstanding debt defaults.
  • A US judge found PDV holding – one of Citgo’s parent companies – liable for Venezuela’s foreign debt.
  • Citgo operates a 807,000 bpd oil refining network, owns interests in pipelines and terminals, and supplies fuel to 4,200 independent gasoline outlets in the U.S.
  • Citgo has not paid any dividends to Venezuela since 2019, when Citgo severed ties with PDVSA following US sanctions.
Energy BulletsCommodities
Energy BulletsCommodities

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