Auction For Citgo Assets To Begin This Week ...Middle East

OILPRICE - Economy
Auction For Citgo Assets To Begin This Week
source : OILPRICE ( Middle East ) () 44
Later today, a Texas judge is set to launch an auction for the assets of Citgo—the U.S.-based, Venezuela-controlled refiner that became a bargaining chip between Caracas and Washington. For four years, as Reuters wrote in a report over the weekend, the U.S. federal government protected Citgo from its creditors and loss claimants, all of them eager for a piece of the refiner’s pie to cover losses incurred during Venezuela’s nationalization drive during Hugo Chavez’ reign in the 90s. Those creditors have claims against Citgo’s…

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