U.S. Extends Protection Over Venezuela's Citgo for One Year [Business News Network (BNN) (Canada)]
ConocoPhillips (COP)
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Source: Business News Network
since it first stepped in to shield its U.S.-based refining arm from creditors, amid its economic downfall and political crisis. U.S. administrations under Donald Trump and now Joe Biden, had previously extended the ban for shorter periods -- 90 days each -- consecutively, as claims from bondholders and creditors over Petroleos de Venezuela SA's main asset in the U.S., Citgo Petroleum Corp., piled up in courts. Venezuela's opposition, which under Juan Guaido has sought to avoid losing control of Citgo while mounting a challenge to the country's socialist regime, celebrated the move. “This is the largest license extension granted so far to protect and preserve Citgo,” said Guaido's representative in the U.S., Carlos Vecchio, on Twitter. “We thank the Joe Biden administration for this important step in favor of the Venezuelan people.” The new one-year ban took force Thursday with the Treasury Department's Office of Foreign Assets Control issuance of a 5I license that will be in
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COP
Earnings
- 2/8/24 - Beat
COP
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/17/24 - Form 4
- 4/2/24 - Form 4
- COP's page on the SEC website