Citgo’s future hangs in the balance
Rival Venezuelan regimes’ hopes of holding onto US firm look bleaker
Bankrupt Canadian mining firm Crystallex has received permission from a US federal court to pursue shares in US refiner Citgo, which is currently controlled by the US-recognised Juan Guaido administration that challenges President Nicolas Maduro for leadership of the troubled Latin American country. Guaido had asked for a 45-day extension for a so-called ‘hearing en banc.’ A panel of judges would have re-examined a July ruling by the US court of appeals for the third circuit that allowed Crystallex to go after Citgo assets. But the administration failed to file any petition, prompting the court to lift the stay. Crystallex will still need a licence from the US Treasury before it can start it

Also in this section
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
12 March 2025
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek
11 March 2025
Direct air capture is still in its infancy, but organisations are seeking to leverage global collaborations and AI to discover new materials, with an aim of scaling up the technology and cutting costs