Protects refining assets after PDVSA missed bond payments Platts Analytics estimates September output at 300,000 b/d Washington — The US Department of the Treasury on Oct. 6 again extended for three months an order preventing creditors of Venezuela’s state-owned oil company PDVSA from taking control of US refiner Citgo as a result of missed payments on its 2020 bonds. The license, which was set to expire Oct. 20, now runs until Jan. 19, the day before the US presidential inauguration. PDVSA missed a key payment on the 8.5% bonds in October 2019, setting up the possibility of losing US refiner Citgo, its most valuable overseas asset. In several lawsuits working their way through US courts, Venezuela’s creditors have tried to collect on old debts by seizing Citgo assets. In November 2019, the 3rd US Circuit Court […]