Trump’s White House will block attempts by the Kremlin to
acquire large portions of Venezuela’s Citgo, a U.S. subsidiary of
the state-owned PDVSA. Rosneft agreed to acquire half of Citgo’s
shares in exchange for a $1.5 billion loan in 2016. Cash-hungry
PDVSA approved the deal, leaving American lawmakers concerned that
a Russian firm would control roughly five percent of U.S. refining
capacity via the buyouts. Citgo controls three refineries which
process 750,000 barrels of oil per day. It also owns 48 storage
facilities for refined…
acquire large portions of Venezuela’s Citgo, a U.S. subsidiary of
the state-owned PDVSA. Rosneft agreed to acquire half of Citgo’s
shares in exchange for a $1.5 billion loan in 2016. Cash-hungry
PDVSA approved the deal, leaving American lawmakers concerned that
a Russian firm would control roughly five percent of U.S. refining
capacity via the buyouts. Citgo controls three refineries which
process 750,000 barrels of oil per day. It also owns 48 storage
facilities for refined…
Trump’s White House will block attempts by the Kremlin to
acquire large portions of Venezuela’s Citgo, a U.S. subsidiary of
the state-owned PDVSA. Rosneft agreed to acquire half of Citgo’s
shares in exchange for a $1.5 billion loan in 2016. Cash-hungry
PDVSA approved the deal, leaving American lawmakers concerned that
a Russian firm would control roughly five percent of U.S. refining
capacity via the buyouts. Citgo controls three refineries which
process 750,000 barrels of oil per day. It also owns 48 storage
facilities for refined…
acquire large portions of Venezuela’s Citgo, a U.S. subsidiary of
the state-owned PDVSA. Rosneft agreed to acquire half of Citgo’s
shares in exchange for a $1.5 billion loan in 2016. Cash-hungry
PDVSA approved the deal, leaving American lawmakers concerned that
a Russian firm would control roughly five percent of U.S. refining
capacity via the buyouts. Citgo controls three refineries which
process 750,000 barrels of oil per day. It also owns 48 storage
facilities for refined…