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Venezuela’s Presidents Duel Over Citgo, the Crown Jewel of PDVSA

Jan. 25, 2019, 9:34 PM

Venezuela’s acting president, Juan Guaido, is preparing to do battle for the crown jewel of PDVSA’s assets: Control of Citgo Petroleum Corp., a Houston-based refiner that helps to bankroll the government of Nicolas Maduro.

Guaido said in a Jan. 25 news conference that he’s ready to name a new board for Citgo, replacing executives appointed by Maduro, who the U.S. government no longer recognizes as the country’s rightful leader. Guaido also said he plans to dismiss Manuel Quevedo, the oil minister and president of Petroleos de Venezuela SA, the state-run oil company.

In a competing news conference in Caracas, Maduro ...