Tag Archives: Citgo

The U.S. Supreme Court justices declined on Monday to review a federal court’s ruling that had allowed Canadian miner Crystallex to take over shares of U.S. refiner Citgo in compensation for US$1.4 billion for the expropriation of assets in Venezuela. U.S. refiner Citgo is the crown jewel in the holdings …

Oil production would continue falling and possibly accelerate throughout 2019 as sanctions-related deadlines pass.

Before sanctions. the US used to be the largest buyer of Venezuelan crude.

Venezuela'.s total crude output will fall to below 800.000 b d by the end of February.

Russian energy giant Rosneft has loaned more than $6bn to PDVSA.

Venezuela exports about 500.000 barrels per day (bpd) of crude to the United States.

Some energy industry officials are pressuring the Trump administration to hold off.

Venezuelan crude exports to the United States last year fell 15 percent to the lowest annual average in nearly three decades.

U.S. officials are considering a range of potential measures. including restricting U.S. imports of Venezuelan oil or even a full ban.