(Jef Feeley, Nicolle Yapur and Andreina Itriago Acosta, Bloomberg, 31.Dec.2024) — A US judge reset the bidding process for the parent company of Citgo Petroleum Corp. late Tuesday, a move […]
Tag: Crystallex International Corp.
More Venezuela Creditors to Join Citgo Auction
(Reuters, 8.Jan.2023) — A U.S. judge on Monday granted a large group of Venezuela-linked creditors rights to participate and receive proceeds from a coming auction of shares in the parent […]
Local Trinidad Operator Expresses Interest in Citgo Assets
(Trinidad Express, 2.Nov.2023) — Decker Petroleum and Marketing Company Ltd (DPMCL), based in Trinidad and Tobago, has written the US District Court of Delaware officially expressing its interest in acquiring […]
Which Creditors Will Have Priority for Citgo Share Auction?
(Reuters, 12.Sep.2023) — A U.S. judge in Delaware on Tuesday will set the procedure for an upcoming auction of shares in a parent of Venezuela-owned oil refiner Citgo Petroleum to […]
Exxon Mobil Wants its Piece of Citgo
(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 […]
Who are Venezuela Creditors Seeking to Seize Citgo?
(Reuters, 19.Jul.2023) — The U.S. on Wednesday approved a three-month extension to a license protecting Citgo Petroleum from creditors seeking to seize the oil refiner’s assets. The document comes as a negotiation team representing […]
Venezuela’s Opposition Proposes Using Exports Proceeds to Pay Creditors
(Reuters, 7.Jul.2023) — Venezuela’s opposition is crafting a proposal for the country to redirect about 200,000 barrels per day of its oil exports to a trustee to pay creditors with claims on […]
Citgo Boards In Last-ditch Talks With Washington
(Reuters, 22.Oct.2021) — The supervisory boards of Venezuela-owned Citgo Petroleum, racing to stave off a breakup of the eighth largest U.S. oil refiner, have held talks with U.S. officials in […]
Judge Approves Citgo Parent Share Sale
(Argus, 14.Jan.2021) — Venezuela inched closer to losing control of its US refining subsidiary Citgo today after a federal judge began crafting a sale process for shares of its controlling […]
Guaido Team Favoring COP In Citgo Fight
(Argus, 19.Jun.2020) — Another senior Venezuelan opposition figure has resigned following the government’s leak of a strategy to favor ConocoPhillips in an escalating battle for Venezuelan state-owned PdV’s US refining […]
Opposition Asks Court To Recognize Citgo Changes
(Argus, 18.Jun.2020) — Venezuelan ownership of the country’s most valuable overseas asset may rest on opposition leadership convincing a US court that it restored refiner Citgo’s independence and remains a […]
Venezuela Spurned By US Court In Citgo Clash
(Bloomberg, 18.May.2020) — The U.S. Supreme Court rejected an appeal by Venezuela in its fight to retain control of oil refiner Citgo Holding Inc., putting the country a step closer […]
Third Circuit Rejects Citgo Rehearing
(Argus, Elliott Blackburn, 21.Nov.2019) — Federal appeals court judges have denied Venezuela’s request to rehear a July decision upholding the pursuit of the country’s US refining subsidiary Citgo to satisfy […]
Guaido Camp Declares PDVSA 2020 Bond Void
(venezuelanalysis.com, 16.Oct.2019) — Venezuela’s CITGO could be seized by creditors. Venezuela’s opposition-held National Assembly (AN) passed a resolution Tuesday branding the country’s 2020 PDVSA bond “invalid.” The move comes on […]
Citgo Bolsters Legal Defenses With Former BP Lawyer
(Reuters, 8.Oct.2019) — Citgo Petroleum Corp this week named a former BP lawyer to take on the company’s top legal job as it faces creditors seeking to seize shares in […]
Venezuela’s Ad-Hoc PDVSA Board Begins Payment On Citgo-Backed 2020 Bond
(Reuters, Corina Pons and Mayela Armas, 16.May.2019) — Venezuela’s ad-hoc board of directors for state oil company PDVSA, appointed by opposition leader Juan Guaido, said on Thursday it has made […]
Venezuela Makes Multimillion-dollar Payment To Retain Citgo
(Houston Business Journal, Olivia Pulsinelli, 28.Nov.2018) — Houston-based refiner Citgo Holding Inc. will remain owned by Venezuela’s state-run oil company, PetrĂłleos de Venezuela SA, if PDVSA follows through with the […]
PDVSA Bewilders Bond Analysts By Making $949mn Payment
(Bloomberg, Davide Scigliuzzo, 31.Oct.2018) — Venezuela just forked over almost $1 billion to stay current on a bond backed by shares of its U.S. refiner Citgo. The question is why. […]
Bondholders Raise Hopes Venezuela Will Pay Up On Due Debt
(Ft.com, Gideon Long, 25.Oct.2018) — In a month in which emerging market government bonds have been hammered by the prospect of US rate increases, geopolitical risk and fears of a […]
PDVSA Prepares To Make $949 Mln Payment On Citgo-Backed Bond
(Bloomberg, 24.Oct.2018) — Petroleos de Venezuela SA’s plan to make a $949 million bond payment would mark a rare exception for Nicolas Maduro’s regime as it tries to hold on […]
CITGO Awards Grant, Continues Restoration Work
(Citgo, 29.Aug.2018) — Through the CITGO Caring for Our Coast initiative, a program designed to boost ecological conservation, restoration and education, The Conservation Foundation (TCF) has been awarded a grant […]
Rosneft May Challenge Crystallex Claim To Citgo Shares
(Oilprice.com, Irina Slav, 23.Aug.2018) — Rosneft has asked a U.S. federal court to establish “a robust appraisal and sale process” of Citgo shares following Canadian miner Crystallex’ win at court […]
Venezuela Agrees to Pay $2 Bln Over Seizure of Oil Projects
(The New York Times, Clifford Krauss, 20.Aug.2018) – More than a decade ago, Venezuela seized several oil projects from the American oil company ConocoPhillips without compensation. Now, under pressure after […]
Venezuelan Oil Assets to be Seized by Creditors
(Express, Simon Osborne, 16.Aug.2018) – Venezuela’s oil assets are being targeted by angry creditors after a US court granted a Canadian mining company permission to send in the bailiffs. Firms […]
Crystallex Wins Right To Tap Citgo For Compensation
(OilPrice.com, Irina Slav, 10.Aug.2018) – Canadian gold miner Crystallex was ruled the winner in a long-running case against Venezuela, which it has sued for the forced nationalization of its assets […]
Analysts: Only a Matter of Time Before Venezuela Loses Citgo
(Houston Chronicle, Jordan Blum, 10.Aug.2018) – Financially crippled Venezuela likely will lose control of its Houston refining arm Citgo Petroleum once a slew of lawsuits eventually are resolved, and it’s […]
Crystallex Court Win Against Venezuela Aided by Finding
(Reuters, Brian Ellsworth, 10.Aug.2018) – Crystallex’s victory in a legal battle with Venezuela that paves the way for it to collect a $1.4 billion award hinged on a finding that […]
U.S. Judge Authorizes Seizure of Venezuela’s Citgo
(The Wall Street Journal, Andrew Scurria and Julie Wernau, 9.Aug.2018) – A U.S. federal judge authorized the seizure of Citgo Petroleum Corp. to satisfy a Venezuelan government debt, a ruling […]
Crystallex Can Go After Venezuela’s US Refineries
(Associated Press, 9.Aug.2018) – A Canadian gold mining company on Thursday won the right to go after Venezuela’s prized U.S.-based oil refineries and collect $1.4 billion it lost in a […]