The elected president of Venezuela Edmundo González Urrutia had to flee to Spain and is currently in exile in that country after the regime issued an arrest warrant against him for subversion. González Urrutia obtained 67% of the votes in the election day of July 28, against 30% for Nicolás Maduro with 83.5% of the votes verified with published tally sheets, winning in all states (source: resultadosconvzla.com). We reject the arrest warrant, and the fraud intended by the National Electoral Council – CNE of Venezuela, proclaiming Nicolás Maduro as president-elect for a new presidential term and its ratification by the Supreme Court of Justice-TSJ, both without showing the voting minutes or any other support.  EnergiesNet ” Latin America & Caribbean web portal with news and information on Energy, Oil, Gas, Renewables, Engineering, Technology, and Environment.– Contact : Elio Ohep, editor at  EnergiesNet@gmail.com +584142763041-   The elected president of Venezuela Edmundo González Urrutia had to flee to Spain and is currently in exile in that country after the regime issued an arrest warrant against him for subversion. González Urrutia obtained 67% of the votes in the election day of July 28, against 30% for Nicolás Maduro with 83.5% of the votes verified with published tally sheets, winning in all states (source: resultadosconvzla.com). We reject the arrest warrant, and the fraud intended by the National Electoral Council – CNE of Venezuela, proclaiming Nicolás Maduro as president-elect for a new presidential term and its ratification by the Supreme Court of Justice-TSJ, both without showing the voting minutes or any other support.
10/07 Closing Prices  / revised 10/08/2024 08:57 GMT | 10/07   OPEC Basket $78.50 +$0.84 cents | 10/07    Mexico Basket (MME)  $71.94 +$2.61 cents 08/31 Venezuela Basket (Merey)  $62 15   +$1.66 cents 10/07 NYMEX Light Sweet Crude $77.14 +$2.76cents | 10/07 ICE Brent Sept $80.93 +$2.88 cents | 10/07 Gasoline RBOB NYC Harbor $2.1538 +0.0580 cents | 10/07 Heating oil NY Harbor  $2.3962 +0.0835 cents| 10/07 NYMEX Natural Gas $2.746 -0.108 cents| 10/04 Active U.S. Rig Count (Oil & Gacs) 585 -2 | 10/08 USD/MXN Mexican Peso 19.3203 (data live) 10/08 EUR/USD  1.0991 (data live) | 10/08 US/Bs. (Bolivar)  $37.03970000 (data BCV) | Source: WTRG/MSN/Bloomberg/MarketWatch

Venezuela representatives, US officials meet over Citgo auction

A sign of Citgo Petroleum is seen at its headquarters in Houston, Texas, U.S., January 11, 2024. REUTERS/Go Nakamura
A sign of Citgo Petroleum is seen at its headquarters in Houston, Texas, U.S., January 11, 2024. Reuters/Go Nakamura

Reporting by Marianna Parraga, Reuters

HOUSTON
EnergiesNet.com 06 05 2024

 Members of Venezuela’s political opposition and the boards that supervise state-owned refiner Citgo Petroleum have met U.S. officials and lawmakers in recent days in a new effort to pause a court-ordered auction of shares to pay creditors, people close to the talks said.

A second bidding round for shares in Citgo’s parent company PDV Holding is expected to close on Tuesday, the final step in a years-long process expected to result in a change of ownership of the seventh-largest U.S. refiner.

WHY IT’S IMPORTANT

A total of 18 creditors including ConocoPhillips, Koch Industries and miners Crystallex, Rusoro and Gold Reserve, aim to cash up to $21.3 billion in claims.

But the highest offer in the first bidding round did not reach $8 billion, prompting Citgo’s supervisory boards to protest and present an alternative payment option.

If successful, the talks could result in a change of U.S. policy guidance issued by the Biden administration, which last year gave a green light to the U.S. District Court in Delaware to move forward with the auction.

Citgo and its supervisory boards did not immediately respond to requests for comment.

WHAT’S NEXT

The Venezuela representatives want a pause in the court process at least until results are known from the Venezuelan presidential election in July.

BY THE NUMBERS

Citgo has plants in Louisiana, Illinois and Texas that can jointly process 807,000 barrels per day of oil. In the last two years, the company has generated $4.8 billion in combined net earnings.

Reporting by Marianna Parraga; Editing by Jamie Freed

reuters.com 04 06 2024

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