Subscribe to Money Morning get daily headlines subscribe now! Money Morning Private Briefing today's private briefing Access Your Profit Alerts

Venezuela Eyeing $10 Billion Sale of Citgo to Counter Economic Woes

Venezuela's state-owned oil and natural gas company, Petróleos de Venezuela SA (PDVSA) is considering selling its Citgo Petroleum Corp. for $10 billion to help combat the South American country's rampant inflation and low U.S. dollar reserves.

Money Morning's Global Energy Strategist Dr. Kent Moors appeared on CCTV America yesterday (Thursday) at 3 p.m. EDT to discuss the deal, which involves Citgo's refinery assets and could include 6,000 retail stations.

But Moors said the Citgo deal may be undervalued, and that PDVSA's financial problems are the work of the Venezuelan government…

Now:This "miracle material" is our secret weapon in the coming energy war. Here's howyou can start profiting today…

Join the conversation. Click here to jump to comments…

Leave a Reply

Your email address will not be published. Required fields are marked *

Some HTML is OK