The state-owned oil company PDVSA has once again reorganized the leadership of its subsidiaries in the United States, reaffirming Asdrúbal Chávez Jiménez as the head of PDV Holding and its subsidiary Citgo, amid the complex political, legal, and economic crossroads that Venezuela is facing.
A U.S. judge upheld the validity of PDVSA bonds due in 2020, which was secured by a majority stake in U.S.-based refiner Citgo.
A U.S. court official overseeing the auction of PDV Holdings, the parent company of Citgo Petroleum, has recommended the $7.38 billion bid.
Venezuelan opposition groups known as the “Interim Government” and the “2015 National Assembly” are alleged to have diverted over $320 million from accounts of the Central Bank of Venezuela (BCV) in the United States since 2019.
