& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




Venezuela opposition will name new Citgo board this week -WSJ




By Reuters

Petroleumworld 02 05 2019

Venezuela's self-declared interim president, Juan Guaido, will name a new board for Citgo Petroleum Corp this week, Republican U.S. Senator Marco Rubio told the Wall Street Journal on Wednesday.

Citgo, the eighth-largest U.S. refiner and owned by Venezuelan state oil company Petroleos de Venezuela SA (PDVSA), is Venezuela's top foreign asset.

But the United States has imposed sanctions on PDVSA as part of Washington's bid to pressure Venezuelan President Nicolas Maduro to step down after he was re-elected last year in a vote critics have called a sham. The U.S. actions have, in turn, squeezed Citgo.

Venezuela's opposition said on Wednesday it would use income accrued by Citgo since last month to finance its efforts to dislodge Maduro.

“The interim president is going to name a new governance board very soon here, probably as early as today or tomorrow and that'll be recognized under U.S. law,” Rubio said in an interview with the Journal.

Rubio added that the United States would then recognize that board as the legal entity controlling Citgo.

It was not immediately clear how Rubio received that information. Representatives for Rubio, Citgo, the White House and Carlos Vecchio, the U.S. representative for Guaido, did not immediately respond to requests for comments.

PDVSA has said it would use legal maneuvers to block a takeover of Citgo.

Washington has recognized Guaido, an opposition leader and head of Venezuela's National Assembly, as the interim president of Venezuela. Other countries have followed suit. But Maduro, who denounces Guaido as a U.S. puppet seeking to foment a coup against him, has retained control of the state and still counts on support from Russia and China.


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.



Reporting by Makini Brice and Matt Spetalnick; Editing by Peter Cooney from Reuters.

reuters.com 02 07 2019


Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Elio Ohep A. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reserved




This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.