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How Would the Sale of CITGO Impact Venezuela?

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Please use this identifier to cite or link to this item: http://hdl.handle.net/1928/12313

How Would the Sale of CITGO Impact Venezuela?

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Title: How Would the Sale of CITGO Impact Venezuela?
Author: Inter-American Dialogue's Latin American Energy Advisor
Subject: Hugo Chavez
CITGO Petroleum Corp.
state programs
economy
interests
Luis E. Giusti
PDVSA
Petroleos de Venezuela
Lake Charles
Corpus Christi
Chevron
Pascagoula
Jorge Pinon
Lyondell
Ruhr Oel German
Gustavo Coronel
re-election
income
Alberto Cisneros Lavaller
embargo
ExxonMobil
Conoco
Abstract: Venezuelan President Hugo Chávez has raised the possibility of selling Venezuela's U.S.-based oil company, CITGO Petroleum Corp., to finance ambitious state programs. Chávez has said the company's sale could raise at least $10 billion for the state's stretched coffers, though many analysts suggest it is valued at far less. Is Chávez likely to sell CITGO and, if so, how much would the company reasonably fetch? What impact would the sale have on the Venezuelan economy in the near future? What effects would it have on Venezuela's long-term interests?
Date: 2010-12-20
Citation: Inter-American Dialogue’s Latin American Energy Advisor, December 20-24, 2010; pp. 1, 3, 6; online at www.thedialogue.org.
URI: http://hdl.handle.net/1928/12313


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