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Citgo steps up with Venezuelan crude: what does it mean for the dollar and P2P?There are news items that happen like a technical detail in the energy sector and end up moving—albeit little by little—the table where Venezuelans exchange dollars for bolívares every day. The latest comes from Washington: Citgo Petroleum Corporation, the U.S. subsidiary refinery of Pdvsa, climbed to second place among recipients of Venezuelan crude, only behind Valero Energy, according to figures certified by the Energy Information Administration (EIA).
The numbers, translated: in June, the company processed seven cargoes totaling more than 3.2 million barrels, an average of 109,300 barrels per day (bpd). That represents about 15% of all Venezuelan crude that reached U.S. soil that month, in a context where exports to that destination reached 721,000 bpd, the highest figure in nine years.
Citgo steps up with Venezuelan crude: what does it mean for the dollar and P2P?
There are news items that happen like a technical detail in the energy sector and end up moving—albeit little by little—the table where Venezuelans exchange dollars for bolívares every day. The latest comes from Washington: Citgo Petroleum Corporation, the U.S. subsidiary refinery of Pdvsa, climbed to second place among recipients of Venezuelan crude, only behind Valero Energy, according to figures certified by the Energy Information Administration (EIA).
The numbers, translated: in June, the company processed seven cargoes totaling more than 3.2 million barrels, an average of 109,300 barrels per day (bpd). That represents about 15% of all Venezuelan crude that reached U.S. soil that month, in a context where exports to that destination reached 721,000 bpd, the highest figure in nine years.
The numbers, translated: in June, the company processed seven cargoes totaling more than 3.2 million barrels, an average of 109,300 barrels per day (bpd). That represents about 15% of all Venezuelan crude that reached U.S. soil that month, in a context where exports to that destination reached 721,000 bpd, the highest figure in nine years.
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Article
OFAC extends Citgo protection against creditors until #5NovOFAC maintains protection over Citgo by preventing the PDVSA 2020 bonds from being traded, despite the fact that a U.S. court has already approved an auction.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury reported on September 16, 2026, that it authorizes, starting November 5 of this year, all transactions related to the bond of Petróleos de Venezuela, S.A. (PDVSA) 2020.
Consequently, the U.S. entity extends protection for Venezuela’s property of Citgo for another month and a half, since these securities were placed with 50.1% of the shares of the oil refinery owned by PDVSA as collateral.
OFAC extends Citgo protection against creditors until #5Nov
OFAC maintains protection over Citgo by preventing the PDVSA 2020 bonds from being traded, despite the fact that a U.S. court has already approved an auction.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury reported on September 16, 2026, that it authorizes, starting November 5 of this year, all transactions related to the bond of Petróleos de Venezuela, S.A. (PDVSA) 2020.
Consequently, the U.S. entity extends protection for Venezuela’s property of Citgo for another month and a half, since these securities were placed with 50.1% of the shares of the oil refinery owned by PDVSA as collateral.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury reported on September 16, 2026, that it authorizes, starting November 5 of this year, all transactions related to the bond of Petróleos de Venezuela, S.A. (PDVSA) 2020.
Consequently, the U.S. entity extends protection for Venezuela’s property of Citgo for another month and a half, since these securities were placed with 50.1% of the shares of the oil refinery owned by PDVSA as collateral.
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US freezes Citgo governance: what it means for the dollar and the P2PThe U.S. Department of the Treasury once again moved a chess piece in the legal landscape surrounding Citgo Petroleum. Through the Office of Foreign Assets Control (OFAC), Washington amended the license that covers the refinery and its two parent companies in U.S. territory—PDV Holding and Citgo Holding—with a clear goal: to safeguard corporate governance and prevent any unauthorized move from changing who runs things there.
In practice, the amendment forbids appointing, removing, or replacing directors, executives, and senior corporate-government officials within those structures. It’s an administrative lock on an asset that has been stuck for years amid lawsuits, international creditors, and political power struggles. And although it sounds like a matter for courts and law firms, it has direct repercussions for the pocket of the average Venezuelan: exchange-rate expectations, the flow of dollars, and the always sensitive parallel market.
US freezes Citgo governance: what it means for the dollar and the P2P
The U.S. Department of the Treasury once again moved a chess piece in the legal landscape surrounding Citgo Petroleum. Through the Office of Foreign Assets Control (OFAC), Washington amended the license that covers the refinery and its two parent companies in U.S. territory—PDV Holding and Citgo Holding—with a clear goal: to safeguard corporate governance and prevent any unauthorized move from changing who runs things there.
In practice, the amendment forbids appointing, removing, or replacing directors, executives, and senior corporate-government officials within those structures. It’s an administrative lock on an asset that has been stuck for years amid lawsuits, international creditors, and political power struggles. And although it sounds like a matter for courts and law firms, it has direct repercussions for the pocket of the average Venezuelan: exchange-rate expectations, the flow of dollars, and the always sensitive parallel market.
In practice, the amendment forbids appointing, removing, or replacing directors, executives, and senior corporate-government officials within those structures. It’s an administrative lock on an asset that has been stuck for years amid lawsuits, international creditors, and political power struggles. And although it sounds like a matter for courts and law firms, it has direct repercussions for the pocket of the average Venezuelan: exchange-rate expectations, the flow of dollars, and the always sensitive parallel market.
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Article
Citgo in the spotlight: what it means for P2P and the dollar in Venezuela?## A move that echoes beyond the refinery
While Citgo Petroleum is a U.S. company owned by Venezuela, its management and control have side effects that go far beyond the oil industry. The recent Reuters information, about a board restructuring driven by acting president Delcy Rodríguez, opens a new chapter that could reshape not only the geopolitical map, but also the everyday economy of Venezuelans, including parallel currency markets and the crypto ecosystem.
Citgo in the spotlight: what it means for P2P and the dollar in Venezuela?
## A move that echoes beyond the refinery
While Citgo Petroleum is a U.S. company owned by Venezuela, its management and control have side effects that go far beyond the oil industry. The recent Reuters information, about a board restructuring driven by acting president Delcy Rodríguez, opens a new chapter that could reshape not only the geopolitical map, but also the everyday economy of Venezuelans, including parallel currency markets and the crypto ecosystem.
While Citgo Petroleum is a U.S. company owned by Venezuela, its management and control have side effects that go far beyond the oil industry. The recent Reuters information, about a board restructuring driven by acting president Delcy Rodríguez, opens a new chapter that could reshape not only the geopolitical map, but also the everyday economy of Venezuelans, including parallel currency markets and the crypto ecosystem.
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💥The US OFAC issued a license to authorize certain transactions involving bonds #PDVSA 2020.
The issuance and continued extension of general licenses by the Office of Foreign Assets Control (#OFAC ) of the U.S. Department of the Treasury in connection with the PDVSA 2020 bond (8.5%) constitute a financial control mechanism of very high geopolitical sensitivity.
* Through successive issuance of licenses (such as extensions of the GL 5 series), OFAC has repeatedly postponed the effective date on which debt holders may enforce collateral or carry out transactions and sales of Citgo Holding, Inc. shares.
* These regulatory measures seek to prevent the immediate transfer or seizure of 50.1% of the shares of the refining subsidiary in U.S. territory that serve as collateral backing for the bond, while maintaining the prohibition on transactions without specific authorization.
* Through updates to its Frequently Asked Questions (such as FAQ 595), the federal agency has maintained a position aimed at assessing under specific licenses those proposals intended to structure restructuring or refinancing arrangements for payments due to creditors.
The actions and licenses issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury regarding the PDVSA 2020 bond, which is backed by 50.1% of the shares of Citgo Holding, Inc., have primarily aimed to regulate, delay, or limit authorizations for transactions and the enforcement of collateral related to these debt instruments.
Through successive extensions and general licenses (such as the General License 5 series), OFAC has conditioned or temporarily prevented bondholders from taking direct seizure actions against the refining subsidiary’s assets in U.S. territory, while maintaining a strict oversight framework for any financial operation linked to these instruments.
#Citgo #venezuela #License $BTC $YB
💥The US OFAC issued a license to authorize certain transactions involving bonds #PDVSA 2020.
The issuance and continued extension of general licenses by the Office of Foreign Assets Control (#OFAC ) of the U.S. Department of the Treasury in connection with the PDVSA 2020 bond (8.5%) constitute a financial control mechanism of very high geopolitical sensitivity.
* Through successive issuance of licenses (such as extensions of the GL 5 series), OFAC has repeatedly postponed the effective date on which debt holders may enforce collateral or carry out transactions and sales of Citgo Holding, Inc. shares.
* These regulatory measures seek to prevent the immediate transfer or seizure of 50.1% of the shares of the refining subsidiary in U.S. territory that serve as collateral backing for the bond, while maintaining the prohibition on transactions without specific authorization.
* Through updates to its Frequently Asked Questions (such as FAQ 595), the federal agency has maintained a position aimed at assessing under specific licenses those proposals intended to structure restructuring or refinancing arrangements for payments due to creditors.
The actions and licenses issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury regarding the PDVSA 2020 bond, which is backed by 50.1% of the shares of Citgo Holding, Inc., have primarily aimed to regulate, delay, or limit authorizations for transactions and the enforcement of collateral related to these debt instruments.
Through successive extensions and general licenses (such as the General License 5 series), OFAC has conditioned or temporarily prevented bondholders from taking direct seizure actions against the refining subsidiary’s assets in U.S. territory, while maintaining a strict oversight framework for any financial operation linked to these instruments.
#Citgo #venezuela #License $BTC $YB
The issuance and continued extension of general licenses by the Office of Foreign Assets Control (#OFAC ) of the U.S. Department of the Treasury in connection with the PDVSA 2020 bond (8.5%) constitute a financial control mechanism of very high geopolitical sensitivity.
* Through successive issuance of licenses (such as extensions of the GL 5 series), OFAC has repeatedly postponed the effective date on which debt holders may enforce collateral or carry out transactions and sales of Citgo Holding, Inc. shares.
* These regulatory measures seek to prevent the immediate transfer or seizure of 50.1% of the shares of the refining subsidiary in U.S. territory that serve as collateral backing for the bond, while maintaining the prohibition on transactions without specific authorization.
* Through updates to its Frequently Asked Questions (such as FAQ 595), the federal agency has maintained a position aimed at assessing under specific licenses those proposals intended to structure restructuring or refinancing arrangements for payments due to creditors.
The actions and licenses issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury regarding the PDVSA 2020 bond, which is backed by 50.1% of the shares of Citgo Holding, Inc., have primarily aimed to regulate, delay, or limit authorizations for transactions and the enforcement of collateral related to these debt instruments.
Through successive extensions and general licenses (such as the General License 5 series), OFAC has conditioned or temporarily prevented bondholders from taking direct seizure actions against the refining subsidiary’s assets in U.S. territory, while maintaining a strict oversight framework for any financial operation linked to these instruments.
#Citgo #venezuela #License $BTC $YB
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CITGO closed the second quarter with net income of US$936 million and 97% efficiency in refineriesCITGO projects an EBITDA of approximately US$5.8 billion at the end of 2026, and a cash balance at year-end of approximately US$5.7 billion.
CITGO Petroleum Corporation reported, on this August 13, its financial and operational results for the second quarter of 2026.
Strong margins for refined products in the U.S., associated with disruptions in the global supply of products, contributed to net income of US$936 million, an EBITDA of US$1.38 billion, and an adjusted EBITDA of US$1.39 billion.
CITGO closed the second quarter with net income of US$936 million and 97% efficiency in refineries
CITGO projects an EBITDA of approximately US$5.8 billion at the end of 2026, and a cash balance at year-end of approximately US$5.7 billion.
CITGO Petroleum Corporation reported, on this August 13, its financial and operational results for the second quarter of 2026.
Strong margins for refined products in the U.S., associated with disruptions in the global supply of products, contributed to net income of US$936 million, an EBITDA of US$1.38 billion, and an adjusted EBITDA of US$1.39 billion.
CITGO Petroleum Corporation reported, on this August 13, its financial and operational results for the second quarter of 2026.
Strong margins for refined products in the U.S., associated with disruptions in the global supply of products, contributed to net income of US$936 million, an EBITDA of US$1.38 billion, and an adjusted EBITDA of US$1.39 billion.
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Citgo positions itself as the second recipient of Venezuelan oil in the U.S., according to the EIA
U.S. Energy Information Administration data indicate that in June the refinery handled seven shipments totaling more than 3.2 million barrels of crude.
Citgo Petroleum Corporation (CPC), the refining subsidiary of Petróleos de Venezuela S.A. (Pdvsa) in the United States, positioned itself as the second recipient of Venezuelan oil in the northern American country, after Valero Energy.
According to data certified by the U.S. Energy Information Administration (EIA), the refinery added four consecutive months of rising Venezuelan crude intake in June. In the sixth month of the year, the company recorded seven cargoes totaling more than 3.2 million barrels, averaging 109,300 barrels per day (bpd).
The volume reached in June represented 15% of the total of Venezuela’s oil exports to the U.S., which reached 721,000 bpd—an unprecedented figure in the last nine years.
The company resumed these direct purchases of heavy crude in March and has reduced the export of Colombian oil that was part of an agreement signed with the state energy company Ecopetrol in 2019.
For March of this year, Citgo exported 16,000 barrels of oil per day, and in April the figure increased to 49,000 bpd. In the fifth month of the year, purchases of Venezuelan crude stood at 80,000 barrels per day, and for June, the figure was 109,300 bpd, Petroguía reported.
#EEUU #venezuela #petróleo #Citgo #PDVSA $CL $BZ
Citgo positions itself as the second recipient of Venezuelan oil in the U.S., according to the EIA
U.S. Energy Information Administration data indicate that in June the refinery handled seven shipments totaling more than 3.2 million barrels of crude.
Citgo Petroleum Corporation (CPC), the refining subsidiary of Petróleos de Venezuela S.A. (Pdvsa) in the United States, positioned itself as the second recipient of Venezuelan oil in the northern American country, after Valero Energy.
According to data certified by the U.S. Energy Information Administration (EIA), the refinery added four consecutive months of rising Venezuelan crude intake in June. In the sixth month of the year, the company recorded seven cargoes totaling more than 3.2 million barrels, averaging 109,300 barrels per day (bpd).
The volume reached in June represented 15% of the total of Venezuela’s oil exports to the U.S., which reached 721,000 bpd—an unprecedented figure in the last nine years.
The company resumed these direct purchases of heavy crude in March and has reduced the export of Colombian oil that was part of an agreement signed with the state energy company Ecopetrol in 2019.
For March of this year, Citgo exported 16,000 barrels of oil per day, and in April the figure increased to 49,000 bpd. In the fifth month of the year, purchases of Venezuelan crude stood at 80,000 barrels per day, and for June, the figure was 109,300 bpd, Petroguía reported.
#EEUU #venezuela #petróleo #Citgo #PDVSA $CL $BZ
U.S. Energy Information Administration data indicate that in June the refinery handled seven shipments totaling more than 3.2 million barrels of crude.
Citgo Petroleum Corporation (CPC), the refining subsidiary of Petróleos de Venezuela S.A. (Pdvsa) in the United States, positioned itself as the second recipient of Venezuelan oil in the northern American country, after Valero Energy.
According to data certified by the U.S. Energy Information Administration (EIA), the refinery added four consecutive months of rising Venezuelan crude intake in June. In the sixth month of the year, the company recorded seven cargoes totaling more than 3.2 million barrels, averaging 109,300 barrels per day (bpd).
The volume reached in June represented 15% of the total of Venezuela’s oil exports to the U.S., which reached 721,000 bpd—an unprecedented figure in the last nine years.
The company resumed these direct purchases of heavy crude in March and has reduced the export of Colombian oil that was part of an agreement signed with the state energy company Ecopetrol in 2019.
For March of this year, Citgo exported 16,000 barrels of oil per day, and in April the figure increased to 49,000 bpd. In the fifth month of the year, purchases of Venezuelan crude stood at 80,000 barrels per day, and for June, the figure was 109,300 bpd, Petroguía reported.
#EEUU #venezuela #petróleo #Citgo #PDVSA $CL $BZ
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