Venezuela readies Citgo board takeover, sources reveal
Sources indicate Venezuela, led by Delcy Rodríguez, is preparing to take control of Citgo's board, a PDVSA subsidiary, amid political tensions and sanctions.
According to sources familiar with the matter, Venezuela, under the leadership of Executive Vice President Delcy Rodríguez, is preparing to take control of the board of directors of Citgo Petroleum Corp., a key subsidiary of state-owned Petróleos de Venezuela (PDVSA). This move comes amid heightened political tensions and international sanctions that have impacted the country's oil industry. The potential board takeover could disrupt the management of Citgo, which operates refineries and service stations in the United States, and underscores the Venezuelan government's efforts to assert control over strategic overseas assets. Analysts warn that this action may increase uncertainty in energy markets and complicate diplomatic relations, particularly with the United States, where Citgo maintains a significant presence.
