Citgo Petroleum to dismiss workers in Aruba over U.S. sanctions: prime minister 12:53pm EST [Reuters]
Valero Energy Corporation (VLO)
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Source: Reuters
Citgo Petroleum to dismiss workers in Aruba over U.S. sanctions: prime minister | Reuters 2 Min Read (Reuters) - A Citgo Petroleum Corp refining unit in Aruba plans to dismiss workers following sanctions imposed by the United States on Venezuela’s state-run PDVSA, the parent company of the U.S. refining firm, the island’s prime minister said on Friday. President Donald Trump’s administration last month disclosed tough sanctions on Petroleos de Venezuela (PDVSA), barring U.S. customers from paying the company for exports until a team led by Venezuelan congress head, Juan Guaido, arranges its own bank accounts to support his interim government. Citgo in 2016 signed a 15-year lease with the government of Aruba, agreeing to refurbish and reopen an idled 209,000-barrel-per-day refinery previously run by U.S. refiner Valero Energy. Citgo had hired about 300 workers and four contracting firms for the project, which has faced delays due to lack of financing and sanctions imposed since 2017 on
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