While the world waits to see who takes over in Caracas, the biggest fight is now over Venezuela's most valuable asset: U.S.-based oil company Citgo. Here are the most possible outcomes for the most 'confusing corporate situation in the world.'
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Analysis | How Citgo, a U.S. oil company, became Venezuela’s lifelineAs tensions mount between the United States and President Nicolás Maduro, a Houston-based company is in the middle once again.
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Venezuela’s Citgo Weighs Bankruptcy, Other OptionsCitgo Petroleum is considering various options, including filing for bankruptcy in the U.S., to protect its operations amid a fight between the Trump administration and Venezuela’s ruling leftist government over control of the South American country’s state-owned energy assets.
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Trump administration announces sanctions on Venezuela’s state-owned oil company to try to force President Maduro to step downThe order will affect Citgo, the Venezuelan-owned, Houston-based oil company, and Valero, the American oil refiner that is the largest in the United States. Both import substantial amounts of low-quality crude oil from Venezuela, and can continue to do so as long as the payments do not go to Nicolás Maduro’s regime. U.S. officials said […]
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