Citgo’s future hangs in the balance
Rival Venezuelan regimes’ hopes of holding onto US firm look bleaker
Bankrupt Canadian mining firm Crystallex has received permission from a US federal court to pursue shares in US refiner Citgo, which is currently controlled by the US-recognised Juan Guaido administration that challenges President Nicolas Maduro for leadership of the troubled Latin American country. Guaido had asked for a 45-day extension for a so-called ‘hearing en banc.’ A panel of judges would have re-examined a July ruling by the US court of appeals for the third circuit that allowed Crystallex to go after Citgo assets. But the administration failed to file any petition, prompting the court to lift the stay. Crystallex will still need a licence from the US Treasury before it can start it
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
