Venezuela Faces The Loss Of Citgo [Forbes]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Forbes
In an attempt to force Venezuelan President Nicolás Maduro from office, the Trump administration said recently that it would block all U.S. revenue from Citgo to PDVSA. (Photo by Scott Olson/Getty Images) Ever since strongman Hugo Chavez assumed power in Venezuela in 1999 and began moving the country toward an authoritarian, socialist model, the collapse of the economy has been offset by income generated from the presence of huge oil reserves in the country, and the billions of dollars contributed by the refiner Citgo, a subsidiary of the Venezuelan state oil holding company, PDV Holding, and indeed the only appreciable asset of that entity. In fact, Venezuela happens to control the largest proven oil reserves in the world, and Houston based Citgo, one of the ten largest American oil refiners, owns three US refineries and many oil storage terminals and pipelines, in addition to controlling a substantial retail distribution network in this country. Now, however, Citgo's financial con
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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