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  • Guaido Tries to Hide Citgo’s Looting Under his “Government”
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Guaido Tries to Hide Citgo’s Looting Under his “Government”

December 13, 2019

Via Twitter, the “La Tabla” media outlet published that Citgo Petroleum’s report on the results of the third quarter under the “command” of the new de facto directive was removed for download on the website of the US subsidiary of PDVSA.

At the beginning of the year, the government of Donald Trump stole the assets of Citgo, Venezuela’s largest asset abroad, and gave the keys of the refineries to the board of directors appointed by Juan Guaido’s team. This decision was supported by a Delaware Court.

Since then, the Popular Will (VP) deputy has been responsible for the productivity of Venezuelan refineries in the United States.

#CitgoReport Eliminó de su web el informe inicial publicado el viernes tras la presentación de los resultados del 3er. Trimestre en su junta directiva designada por el #proyectoGuaidó. Ese reporte aseguraba que las ganancias habían aumentado 76% con respecto al 2° trimestre 2019 pic.twitter.com/Bil3vEHfci

— La Tabla (@latablablog) December 9, 2019

What did the report say? He assured that profits had increased, from 122 million dollars to 215 million, that is, a 76.2% surplus. The report was reviewed by Reuters on December 4.

The British agency’s office says in the beginning: “It is unlikely that the Citgo refinery board will try to press this week to resume dividend payments, two sources close to the discussions said, because they would not be yet able to help the ‘interim government’ of Venezuela to alleviate the claims of creditors.”

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Ese reporte fue reseñado por Reuters que destacó un aumento de los ingresos netos del trimestre a 215 millones de $$ frente a 122 millones en el trimestre anterior, lo que arroja un aumento del 76,2 % en la ganancia. El despacho incluyó el enlace, que está roto, al informe pic.twitter.com/5X8K0P6CQ8

— La Tabla (@latablablog) December 9, 2019

The figures, apparently, and due to pressure from Citgo creditors, do not satisfy the de facto board of directors, so the document was removed from the site.

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Un revisión manual de las notas en la sección newsroom lleva a una entrada sobre el reporte, la cual (en la versión en inglés) ratifica que en el 3er. trimestre los ingresos fueron de 215 millones de $$ pero modifica la cifra de los anteriores al reportar 270 como total del año pic.twitter.com/ib7r4Jfdzt

— La Tabla (@latablablog) December 9, 2019

Guaidó’s management has undermined PDVSA’s main asset on the international stage, and the numbers are just not enough in a moment of tension due to the possible loss of refineries in the United States to private creditors and Rosneft, the largest energy company in Russia.

#Tablazo La principal revelación del informe trimestral #Citgo es que entre enero y junio ocurrió un saqueo pues los ingresos netos (net income) sólo suman 55 millones $$.
Saque usted la cuenta: Total 9 meses 2019 270 millones menos 215 millones 3er Trimestre pic.twitter.com/9MMU7j5CRR

— La Tabla (@latablablog) December 10, 2019

The report removed from the web portal is just an attempt to erase the traces of financial looting from inside Citgo.

En resumen: los resultados del #proyectoGuaidó muestran un fracaso rotundo de su gestión en #Citgo pues en los tres trimestres sólo puede reportar 270 millones de $$ frente a 608 millones en el mismo lapso de 2018. Fueron 851 millones en todo el año y 243 en el 4to. trimestre

— La Tabla (@latablablog) December 9, 2019

The figures are even more alarming even if we take into account that, in addition, Citgo is capable of producing almost 30 billion dollars in annual revenue.

Featured image: Citgo headquarters are located in Houston, Texas, United States (Photo: Loren Elliott / Reuters)

Source URL: Mision Verdad

Translated by JRE/EF

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Tags: 3 quarter report CITGO Guaido La Tabla looting PDVSA Reuters US Imperialism Venezuela

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