« previous next »
Pages: [1]   Go Down

Author Topic: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes  (Read 659 times)

0 Members and 1 Guest are viewing this topic.

Offline thackney

  • Hero Member
  • *****
  • Posts: 12,267
  • Gender: Male
Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« on: October 10, 2019, 07:44:12 pm »
Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
https://www.miamiherald.com/news/nation-world/world/americas/venezuela/article235953812.html
OCTOBER 09, 2019

Venezuela would lose ownership of Citgo by the end of this month, with the shares of the Texas-based refinery going to Russian state-run oil company Rosneft and to other financial backers of the U.S.-sanctioned Nicolás Maduro regime unless the U.S. Treasury intervenes, people familiar with the situation said.

The transfer of ownership would be triggered by the expected default on a $913 million Petróleos de Venezuela (PDVSA) bond issue payment coming due on Oct. 27. The bondholders would have the right to seize 50.1 percent of Citgo shares Maduro placed as collateral for the bond issue thanks to a special license to circumvent the U.S. sanctions issued by the U.S. Treasury Department that allowed U.S. bondholders to have recourse in case there was a default.

After the Treasury Department granted that license, Venezuelan interim president Juan Guaidó gained control of the company earlier this year.

The Department issued the license to hurt the regime, but now it only threatens Venezuela’s ownership of the company, seen as vital for the bankrupt country’s recovery in an era after Maduro, company insiders said....
Logged
Life is fragile, handle with prayer

Online Wingnut

  • That is the problem with everything. They try and make it better without realizing the old is fine.
  • Hero Member
  • *****
  • Posts: 26,980
  • Gender: Male
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #1 on: October 10, 2019, 08:10:55 pm »
Man what a mess.  Damned if we do, damned if we don't. 
Logged
I am just a Technicolor Dream Cat riding this kaleidoscope of life.

Offline Cyber Liberty

  • Coffee! Donuts! Kittens!
  • Administrator
  • ******
  • Posts: 80,730
  • Gender: Male
  • 🌵🌵🌵
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #2 on: October 10, 2019, 08:17:10 pm »
Quote from: The Ghost on October 10, 2019, 08:10:55 pm
Man what a mess.  Damned if we do, damned if we don't.

This is what we get for trying to intervene on behalf of Citgo.  Pretty damned predictable if you ask me.  At this point, I say "Not one dime" if it helps Venezuela.  I don't care who's the head commie there today.  Apologies in advance to any Citgo employees who may be reading this.
« Last Edit: October 10, 2019, 08:17:56 pm by Cyber Liberty »
Logged
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Online Wingnut

  • That is the problem with everything. They try and make it better without realizing the old is fine.
  • Hero Member
  • *****
  • Posts: 26,980
  • Gender: Male
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #3 on: October 10, 2019, 08:24:53 pm »
Quote from: Cyber Liberty on October 10, 2019, 08:17:10 pm
This is what we get for trying to intervene on behalf of Citgo.  Pretty damned predictable if you ask me.  At this point, I say "Not one dime" if it helps Venezuela.  I don't care who's the head commie there today.  Apologies in advance to any Citgo employees who may be reading this.

Yeah but but...do we want the Ruskies to get control of Citgo?

Logged
I am just a Technicolor Dream Cat riding this kaleidoscope of life.

Offline Cyber Liberty

  • Coffee! Donuts! Kittens!
  • Administrator
  • ******
  • Posts: 80,730
  • Gender: Male
  • 🌵🌵🌵
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #4 on: October 10, 2019, 08:53:08 pm »
Quote from: The Ghost on October 10, 2019, 08:24:53 pm
Yeah but but...do we want the Ruskies to get control of Citgo?

Which would be different from Maduro or that other commie, how?  They all suck, so let the Roosians plow Rubles into the dead chicken. Their infrastructure is a basket case, and their tankers can't dock in many of the world's ports because they leak like sieves.  I submit the proviso that this problem may have already been addressed.  @thackney?
Logged
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,756
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #5 on: October 10, 2019, 09:09:12 pm »
Quote from: Cyber Liberty on October 10, 2019, 08:17:10 pm
This is what we get for trying to intervene on behalf of Citgo.  Pretty damned predictable if you ask me.  At this point, I say "Not one dime" if it helps Venezuela.  I don't care who's the head commie there today.  Apologies in advance to any Citgo employees who may be reading this.
I fault the US who in 1986 permitted Venezuela to purchase 50% of Citgo.  It took another 30+ years to weave the web we have now that didn't have to happen.
Logged
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Online Wingnut

  • That is the problem with everything. They try and make it better without realizing the old is fine.
  • Hero Member
  • *****
  • Posts: 26,980
  • Gender: Male
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #6 on: October 10, 2019, 09:17:18 pm »
Quote from: Cyber Liberty on October 10, 2019, 08:53:08 pm
Which would be different from Maduro or that other commie, how?  They all suck, so let the Roosians plow Rubles into the dead chicken. Their infrastructure is a basket case, and their tankers can't dock in many of the world's ports because they leak like sieves.  I submit the proviso that this problem may have already been addressed.  @thackney?

But, But, ...if there is any hope for Venies they will need Citgo.  Russia will surely use it as a club
Logged
I am just a Technicolor Dream Cat riding this kaleidoscope of life.

Offline Cyber Liberty

  • Coffee! Donuts! Kittens!
  • Administrator
  • ******
  • Posts: 80,730
  • Gender: Male
  • 🌵🌵🌵
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #7 on: October 10, 2019, 09:56:38 pm »
Quote from: The Ghost on October 10, 2019, 09:17:18 pm
But, But, ...if there is any hope for Venies they will need Citgo.  Russia will surely use it as a club

I'll bet you care about the Vennies as much as I do, @The Ghost.   333cleo 333cleo

How about, "Screw them until they learn to not vote for Commies?"  This new guy we've been pusing the past few years is just as leftist as Maduro.  I'm happy every day I wake up and see he's still in power, because if Maduro ever leaves we'll own what remains.  It's the "Pottery Barn" rule. 
Logged
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Online Smokin Joe

  • Hero Member
  • *****
  • Posts: 57,360
  • I was a "conspiracy theorist". Now I'm just right.
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #8 on: October 11, 2019, 09:46:44 am »
Pay attention. The Venezuela oil reserves (proven reserves) are the largest in the world.
(297 billion barrels as of 2014)source
Russia will get those, which essentially puts them back in more socialist hands, only hands with the backing to keep them, and exert the military power to guard that interest. What better excuse to prowl this hemisphere?
Logged
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Cyber Liberty

  • Coffee! Donuts! Kittens!
  • Administrator
  • ******
  • Posts: 80,730
  • Gender: Male
  • 🌵🌵🌵
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #9 on: October 11, 2019, 02:26:46 pm »
Quote from: Smokin Joe on October 11, 2019, 09:46:44 am
Pay attention. The Venezuela oil reserves (proven reserves) are the largest in the world.
(297 billion barrels as of 2014)source
Russia will get those, which essentially puts them back in more socialist hands, only hands with the backing to keep them, and exert the military power to guard that interest. What better excuse to prowl this hemisphere?

Oil reserves have been used to forgive quite a few sins in this world.  The de facto policy seems to be, "If your country sits on enough oil, we'll do anything to protect your leaders, no matter how corrupt, or even if 11 of your citizens hijacked airliners and crashed them into our skyscrapers."
Logged
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Offline PeteS in CA

  • Hero Member
  • *****
  • Posts: 19,575
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #10 on: October 11, 2019, 05:25:42 pm »
Quote from: The Ghost on October 10, 2019, 08:10:55 pm
Man what a mess.  Damned if we do, damned if we don't.

Yep, if Venezuela keeps Citgo it's $$ for Venezuela. OTOH, if that Russian company gets control it's Trump-Russia Collusion.
Logged
If, as anti-Covid-vaxxers claim, https://www.poynter.org/fact-checking/2021/robert-f-kennedy-jr-said-the-covid-19-vaccine-is-the-deadliest-vaccine-ever-made-thats-not-true/ , https://gospelnewsnetwork.org/2021/11/23/covid-shots-are-the-deadliest-vaccines-in-medical-history/ , The Vaccine is deadly, where in the US have Pfizer and Moderna hidden the millions of bodies of those who died of "vaccine injury"? Is reality a Big Pharma Shill?

Millions now living should have died. Anti-Covid-Vaxxer ghouls hardest hit.

Online Smokin Joe

  • Hero Member
  • *****
  • Posts: 57,360
  • I was a "conspiracy theorist". Now I'm just right.
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #11 on: October 12, 2019, 06:22:36 am »
Actually, it would mean Russia would control oil reserves large enough, with the capability of exploiting them, that they would be number 1 globally in terms of oil. Do we want them to have that power? Can we do anything to stop them from getting it?
Logged
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline thackney

  • Hero Member
  • *****
  • Posts: 12,267
  • Gender: Male
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #12 on: October 12, 2019, 11:58:36 am »
Quote from: Cyber Liberty on October 10, 2019, 08:53:08 pm
Which would be different from Maduro or that other commie, how?  They all suck, so let the Roosians plow Rubles into the dead chicken. Their infrastructure is a basket case, and their tankers can't dock in many of the world's ports because they leak like sieves.  I submit the proviso that this problem may have already been addressed.  @thackney?

Don't confuse CITGO, a company in the US owned by PDVSA, with PDVSA.

https://www.citgo.com/about/what-we-do/what-we-do
Logged
Life is fragile, handle with prayer

Offline Cyber Liberty

  • Coffee! Donuts! Kittens!
  • Administrator
  • ******
  • Posts: 80,730
  • Gender: Male
  • 🌵🌵🌵
Re: Venezuela doomed to lose Citgo this month unless U.S. Treasury Department intervenes
« Reply #13 on: October 12, 2019, 01:26:50 pm »
Quote from: thackney on October 12, 2019, 11:58:36 am
Don't confuse CITGO, a company in the US owned by PDVSA, with PDVSA.

https://www.citgo.com/about/what-we-do/what-we-do

Thanks!  That's why I pinged you, @thackney!  You're my go-to guy in the petrol industry...
Logged
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:
Pages: [1]   Go Up
« previous next »