Carlos Vecchio Says Guaidó Govt Saved Citgo

(Energy Analytics Institute, 29.Dec.2020) — Houston-based refiner Citgo Petroleum, owned by Venezuela’s state oil and gas company Petróleos de Venezuela (PDVSA), continues to benefit from US legal actions to extend protection from creditors until July 2021, says Carlos Vecchio, the Venezuela’s ambassador to the US under the government of opposition leader Juan Guaidó, who is also the country’s interim president.

“[Nicolas] Maduro generated more than $150 billion in irresponsible debt, putting the main asset of the Venezuelan people abroad at serious risk,” Vecchio said 29 December 2020 in an emailed statement. “The correct strategy promoted by Interim President Guaidó has recovered and maintained Citgo. If not, today it would be in the hands of private companies or the Russians.”

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.