A default by Venezuela could move the
Russian government closer to gaining control of U.S. refineries and pipelines,
two U.S. congressmen warn in a letter urging the Treasury Department to review
the situation. The letter refers to a $1.5B loan that Russia's state-owned
Rosneft (OTC:RNFTF) made in November to Venezuela's state-owned oil company
PdVSA, in which the Venezuelan company put up 49.9% of the equity in Citgo
Petroleum as collateral; Citgo owns three refineries in the U.S., and a network
of terminals and pipelines running across 24 states. More…
Tuesday, April 11, 2017
Russian control of U.S. oil infrastructure feared if Venezuela defaults
A default by Venezuela could move the
Russian government closer to gaining control of U.S. refineries and pipelines,
two U.S. congressmen warn in a letter urging the Treasury Department to review
the situation. The letter refers to a $1.5B loan that Russia's state-owned
Rosneft (OTC:RNFTF) made in November to Venezuela's state-owned oil company
PdVSA, in which the Venezuelan company put up 49.9% of the equity in Citgo
Petroleum as collateral; Citgo owns three refineries in the U.S., and a network
of terminals and pipelines running across 24 states. More…
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