11/29 Closing prices / revised 11/30/2023  08:05 GMT 11/29    OPEC Basket    83.89 +0.49 | 11/29    Mezcla Mexicana de Exportación   Mexico Basket (MME)   $74.39  +1.37  | 10/31     Venezuela Basket (Merey)  $72.54  – 3.00  (Source: Economia Hoy)  | 11/29    NYMEX WTI Texas Intermediate January CLF24   $77.86 +1.45    | 11/29    ICE Brent January  BRNF24   $83.10   +1.42  | 11/29    NYMEX Gasoline December  RBZ23    $2.28   +2.4% | 11/29     NYMEX  Heating Oil  December HOZ23   $2.89  -0.6% | 11/29     Natural Gas January NGF24    $2.80 -1.2%  | 11/22    Active U.S. Rig Count (Oil & Gas)    622     +4    | 11/30     USD/MXN Mexican Peso  17.2702 (data live  | 11/30   EUR/USD    1.0954  (data live)  | 11/30    US/Bs. (Bolivar)   $35.49390000  ( data BCV)    |      

Former Citgo executive files $100 mln lawsuit over Venezuela jailing – Reuters

Citgo Petroleum refinery is pictured in Sulphur, Louisiana, U.S., June 12, 2018.
Citgo Petroleum refinery is pictured in Sulphur, Louisiana, U.S., June 12, 2018. (Jonathan Bachman/Reuters)

Reporting by Gary McWilliams

EnergiesNet.com 04 28 2023

A former Citgo Petroleum Corp executive jailed in Venezuela for nearly five years is seeking $100 million in damages against his former employer alleging it helped set him up to be arrested and failed to defend him from spurious charges.

Tomeu Vadell and family filed the lawsuit on Tuesday in a Texas state court claiming Citgo (PDVSAC.UL) sent him to Caracas when it knew “there was an extremely high risk” of harm. He was tortured in jail and he and his family were abandoned by the company, the lawsuit claims.

Five of the original seven executives seized in 2017 were freed last October in a deal involving the release of U.S. jailed relatives of Venezuelan President Nicolas Maduro. One Citgo detainee was released earlier and the seventh died in a Venezuelan jail.

“We greatly sympathize with Mr. Vadell for everything he and his family have been through,” a Citgo spokesperson said in a statement. “We disagree with this lawsuit, which irresponsibly equates CITGO, an American company based in Houston, with an authoritarian regime in Venezuela.”

Company officials “supported Mr. Vadell and his family in significant financial and other ways,” the spokesperson said.

Vadell and the other executives were summoned to a meeting at Venezuelan state-oil firm Petroleos de Venezuela (PDVSA.UL), Citgo’s parent. They were held and later charged over a refinancing deal for Citgo that never went through. A Venezuelan court sentenced the executives in 2020 to prison terms ranging from eight to 13 years.

The case is Tomeu Vadell et al V. Citgo Petroleum Corp., Harris County District Court, No. 2023-17486

Reporting by Gary McWilliams; Editing by Richard Changreuters.com 03 21 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com

CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

Scroll to Top