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Venezuela fights to reclaim PDVSA and not lose its “crown jewel” subsidiary Citgo

RIO DE JANEIRO, BRAZIL - To begin conceiving a recovery from the economic and humanitarian crisis Venezuela is experiencing, it is necessary to assess the battle the country will have to fight abroad to retain its most precious asset: Citgo, the North American subsidiary of state-owned Petroleos de Venezuela (PDVSA).

In negotiations that began last Friday with the opposition, the Venezuelan government is claiming control of Citgo, in the dispute created by opposition leader Juan Guaidó who is recognized as interim president by over 50 countries.

The company faces threats from creditors on different fronts, and the hope is that . . .

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