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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRussia's Rosneft on the verge of taking ownership of U.S. oil company Citgo.
Russia is on the verge of taking control of a US oil company.
In a crazy twist of international events, Russia's state-owned oil company Rosneft might end up owning Citgo, a US energy company based in Houston, Texas.
This isn't a direct takeover. Instead, it hinges on the ability of Venezuela's state-run oil company to pay back its Russian loan. The Venezuelan company owns Citgo, which was used as collateral for the loan.
Both Republican and Democratic lawmakers are highly alarmed. In hotly worded letters to the Trump Administration in recent days, members of Congress and senators warned that it could be a big problem for US national security if Russia gets a hold of Citgo.
"We are extremely concerned that Rosneft's control of a major US energy supplier could pose a grave threat to American energy security, impact the flow and price of gasoline for American consumers, and expose critical US infrastructure to national security threats," a bipartisan group of senators led by Republican Marco Rubio of Florida and Democrat Bob Menendez of New Jersey wrote Monday in a letter to US Treasury Secretary Steve Mnuchin.
In a crazy twist of international events, Russia's state-owned oil company Rosneft might end up owning Citgo, a US energy company based in Houston, Texas.
This isn't a direct takeover. Instead, it hinges on the ability of Venezuela's state-run oil company to pay back its Russian loan. The Venezuelan company owns Citgo, which was used as collateral for the loan.
Both Republican and Democratic lawmakers are highly alarmed. In hotly worded letters to the Trump Administration in recent days, members of Congress and senators warned that it could be a big problem for US national security if Russia gets a hold of Citgo.
"We are extremely concerned that Rosneft's control of a major US energy supplier could pose a grave threat to American energy security, impact the flow and price of gasoline for American consumers, and expose critical US infrastructure to national security threats," a bipartisan group of senators led by Republican Marco Rubio of Florida and Democrat Bob Menendez of New Jersey wrote Monday in a letter to US Treasury Secretary Steve Mnuchin.
http://money.cnn.com/2017/04/10/news/economy/russia-us-oil-company-citgo/index.html
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Russia's Rosneft on the verge of taking ownership of U.S. oil company Citgo. (Original Post)
CousinIT
Apr 2017
OP
I worry about my Pontiac, so I tend to stop at stations that are listed as "Top Tier" gas
Rhiannon12866
Apr 2017
#7
d_r
(6,907 posts)1. does that mean trump
will own 15% of citgo?
Alice11111
(5,730 posts)3. That's not just a rhetorical question.
I read, heard, no sources, but might have been the Guardian or RM, or comments somewhere, a couple of times, that his holdings were slightly less than 1pc in some of the Russian oil enterprices...but even then, it amounted to billions.
Wellstone ruled
(34,661 posts)2. This has been in the works for years.
When you do not repay the Mafia,you know what happens.
Rhiannon12866
(205,881 posts)5. Oh boy. I just got gas at Citgo on my way home tonight.
It's a regular stop for me.
oasis
(49,401 posts)6. Saw plenty of Citgos years back. But, after Hugo Chavez made a
crack about Bush being the devil in his speech at the UN, I've seen less and less.
Rhiannon12866
(205,881 posts)7. I worry about my Pontiac, so I tend to stop at stations that are listed as "Top Tier" gas
In my area, that's Citgo and Mobil, so that's where I usually stop. And since gas prices just went up overnight here, Citgo also had the best price. *sigh*