PDVSA Values Citgo At Between $32 And $40 Billion ...Middle East

Venezuela’s state oil major PDVSA has valued its U.S.-based downstream subsidiary Citgo at between $32 and $40 billion, Reuters has reported, citing a court hearing. The hearing precedes a planned share sale for Citgo in a bid to settle its massive debt load, estimated at some $23 billion. Some 21 creditors have notified the Delaware court they have claims to that tune against PDVSA and its U.S. unit, the report noted. First in line, when the court-ordered share sale takes place, which is scheduled for October, would be Canadian Crystallex.…

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