Exxon Mobil Wants its Piece of Citgo

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(USA Today, 17.Aug.2023) — The transnational Exxon Mobil, along with 19 other creditors, registered their claims against Venezuela before a court in the United States, as part of the actions to strip the country of its main asset abroad.

The US oil company takes advantage of the actions promoted by the US courts to auction the company, a process that could start in 2023 and end in mid-2024.

The sale of Citgo shares began to be promoted in May through General License No. 42 issued by the Office of Foreign Assets Control (Ofac, for its acronym in English).

The document makes it possible to indemnify various international creditors, including Cristallex and Conoco Phillips, who have sued the subsidiary of Petróleos de Venezuela (PDVSA) for “breach of agreements” during the government of President Hugo Chávez.

The US began to appropriate the company in 2018, through Executive Order 13,835 that prohibits the sale, transfer or use as a guarantee of any entity in US territory.

This was consummated in 2019 with the recognition of the then US President Donald Trump to Juan Guaidó as “interim president”. The Venezuelan government has rejected these actions and demands the immediate return of the company, without conditions.

President Nicolás Maduro has requested that the more than $4bn accumulated be deposited in the banks of the United States for the concept of net profit.

Exxon Mobil has promoted several international legal actions against Venezuela, in addition to being illegally developing projects with Guyana in the Essequibo.


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