Years ago, when Venezuela was a capitalist country, they had a thriving economy, part of that being their oil industry. Somewhere along the way Citgo/Mystik lubricants was taken over by or sold to the Venezuelan government dictatorship with controlling interest. Does anybody know if this is still the case? If not, who has controlling interest now?
Mystik Lubricants
- Thread starter GI_GRIFF
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Bud_One
Site Donor 2025
Per the Googles AI :
Here's a breakdown of the ownership structure:
Here's a breakdown of the ownership structure:
- PDVSA: is Venezuela's state-owned oil company.
- CITGO Petroleum Corporation: is a U.S.-based oil company that is an indirect, wholly owned subsidiary of PDVSA.
- Mystik Lubricants: is a brand of specialty lubricants produced by CITGO.
Thanks for this information, I have wondered for years now if it ever regained USA ownership. Guess not.
This is a complicated subject.
Citgo / Mystik has been run independently from PDVSA since ~2019. There have been US sanctions around it. And there is zero input from PDVSA.
About 3 years ago, the U.S. government forced a sale of Citgo US, to pay back the billions owed to creditors. This auction was finalized a few days ago.
Amber Energy - Aka Elliot Investment group - was declared the auction winner.
It’s still influx, but as of a few days ago, Citgo is now (or will be) US owned.
Citgo / Mystik has been run independently from PDVSA since ~2019. There have been US sanctions around it. And there is zero input from PDVSA.
About 3 years ago, the U.S. government forced a sale of Citgo US, to pay back the billions owed to creditors. This auction was finalized a few days ago.
Amber Energy - Aka Elliot Investment group - was declared the auction winner.
It’s still influx, but as of a few days ago, Citgo is now (or will be) US owned.
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