Financially crippled Venezuela likely will lose control of its Houston refining arm Citgo Petroleum once a slew of lawsuits eventually are resolved, and it’s just a matter of when and to whom, legal and energy analysts said Friday.
A federal U.S. judge ruled late Thursday that a defunct Canadian mining firm can go after Citgo’s assets in order to collect $1.4 billion it allegedly lost from Venezuela when the government seized mining energy assets more than a decade ago under the late socialist leader Hugo Chavez.
Source: FuelFix
