Posted on 04/11/2017 4:16:39 AM PDT by blueplum
NEW YORK — Russia is on the verge of taking control of a US oil company. In a crazy twist of international events, Russia’s state-owned oil company Rosneft might end up owning Citgo, a US energy company based in Houston, Texas. [snip] If PDVSA can’t pay its bills on time, Rosneft will almost certainly get control of Citgo. All Rosneft would need to do is buy a few more of PDVSA’s bonds to get over the 50% ownership threshold. “The Russians have a lot to gain through the PDVSA-Rosneft-Citgo asset transfer to the detriment of US interests,” wrote Republican Congressman Jeff Duncan and Democratic Congressman Albio Sires in a letter to Mnuchin on Thursday. “We urge your immediate attention and review of this matter.” [snip]However, even if Rosneft does get control over Citgo, it’s unlikely Russia would be able to do much to hurt US oil and gas prices.
(Excerpt) Read more at wtvr.com ...
I was told years ago Citgo was Venezuelan.
Citgo was Venezuelan
Petroleos de Venezuela (PDVSA)
“...I was told years ago Citgo was Venezuelan...”
It is. One of our biggest heavy crude refineries sits in Lake Charles, LA and another one is Corpus Christie, TX. Both owned by Citgo. Having the Ruskies owning these would be kind of disconcerting, but probably no worse than Chavez was. We could always “nationalize” these like Chavez did to ours before the Ruskies take over, I guess.
The war in Syria and hostility to Russia serves the interests of Saudi Arabia, whose Al Qaeda rebels fight Asaad and whose $$$$$ is poured into the USA.
“Saudi Arabia Is Buying Up America’s Oil Assets”
Just another reason to avoid CITGO!
THIS is a piece of news Americans would do well to force their congresscritters into acting on, in our behalf.
Is there a downside to owning CITGO ? (outside of the obvious Venezuelan location)
Red China seems to have claims on quite a few US assets in the lower 48, including farmland if I’m not mistaken.
The Saudi’s have their fingers in the pie as well.
Russia is far from the only one.
The decline in oil prices has hurt the Russian economy badly. Perhaps a bone thrown their way will help them be more cooperative in fighting the important battles with us. Oil exec Tillerson in Moscow provoke any thoughts?
Tillersons comments about SYRIA if accurate make him sound like an arrogant belligerent imperialist jackass
Lavrov is his match and it would be a mighty interesting meeting
No wonder Putin has a busy schedule
The purpose of the story is solely for a Russia headline that supports the anti-Trump media's FAKE Russian hysteria.
Bogeymen can do anything!
Red China seems to have claims on quite a few US assets in the lower 48, including farmland if I’m not mistaken.
The Saudi’s have their fingers in the pie as well.
Russia is far from the only one.
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This is the result of being a debtor nation. The US came out of WWII as the strongest nation. Then it was given away by our asshole politicians.
I never post an article just for the headline.
But to answer your question, the difference is, Citgo owns 3 US refineries, therefore, we have a vested interest in who owns what. If Venezuela is going to run out of cash in Oct, that is also pertinent. At least, more pertinent than whether bakers can bake bread or cake.
I prefer Russia to Venezuela. But I still don’t go to Citgo.
2) Allowing Citco, to operate numerous facilities in the US for years when it was owned by an Anti-American and Communist Venezuela was “the story” of a serious security threat that the leftwing media did not take seriously.
3) Russia, who had already held Venezuela's mortgage on Citgo, taking over would not make the threat any worst.
It is only the Anti-Trump media's fake Russian hysteria that all of a sudden made this "threat" the story's headline.
Most of us have for the last decade.
oooooo
I see where you’re coming from. It is kind of wonky. I get it now. :)
Multi-nationals have separate corporations in every country they operate in.
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