As Venezuela's government reduces the workweek to two days to save money and cuts off imports to avoid bankruptcy, the country has only one major overseas asset left: a refining company in Houston called Citgo, the Houston Chronicle reports.
"They are heavily leveraging Citgo because they want the cash," said Francisco Monaldi, fellow in Latin American energy policy.
Houston Chronicle (subscription required): http://bit.ly/1O7ymNV
Tony Payan , Guadalupe Correa-Cabrera
Jan 19 2021 | Center for the U.S. and Mexico
Kenneth B. Medlock III , Mark Finley
Jan 14 2021 | Center for Energy Studies