Citgo Buys Venezuelan Oil for the First Time Since 2019 Sanctions ...Middle East

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Citgo Buys Venezuelan Oil for the First Time Since 2019 Sanctions
source : OILPRICE ( Middle East ) () 36
Citgo Petroleum, the U.S.-based refiner formerly owned by Venezuela’s state oil firm PDVSA, has bought its first Venezuelan crude under U.S. control, anonymous sources with knowledge of the situation have told Reuters. Citgo, which is the seventh-largest refiner in the United States with a total capacity topping 800,000 barrels per day (bpd), is in the process of being acquired by an affiliate of Elliott Investment Management in a court-ordered auction to pay off PDVSA’s debt to creditors.   Citgo was one of Venezuela’s top…

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