Horacio Medina assures that PDVSA is willing ad hoc “to all kinds of audits” to show that no assets have been diverted. He took stock of Citgo, which he said is valued in the market at 12 billion dollars and is at 97% of its refining capacity.
Horacio Medina, president of the ad hoc administrative board of PDVSA, stated this Wednesday the 10th that “Venezuela can recover as the energy center of the region,” if a political change occurs in the country.
In a broadcast with Juan Guaidó, recognized as interim president by several countries, he took stock of the “achievements” of the ad hoc PDVSA in the control of assets outside Venezuela, such as the case of Citgo. “Have full confidence that Citgo is doing the right job. The hope is certain, Venezuela can recover as the energy center of the region”.
He assured that the company is valued in the market at 12 billion dollars and is at 97% of its refining capacity. “The funds that Citgo generates today are still protected, which have not been touched in any way by the government in charge, or by any official (…) There is no way that Citgo’s money will go to anyone.”
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He also said that they are willing “to all kinds of audits”, due to the supervision that the United States Department of the Treasury also exercises. Another issue he mentioned is that “if we had not gone to litigation in 2019, Citgo would have been lost.”
The director of PDVSA ad hoc also asserted that there is “a clearly structured plan for what would be the situation for a change in the political model (…) Confidence must be generated, which currently does not exist. It is possible to recover the industry with changes of vision, Structural changes are necessary”.
While the interim president Juan Guaido, recognized in office by several countries, reiterated that the dividends generated by the protected companies have not been used. “These have served to alleviate the debt contracted by the Chávez and Maduro regimes.”
An energetically reliable Venezuela will be possible in a democracy, Guaidó said in his speech. “Investing in democracy is the best measure that energy companies can take to help with the recovery of the market.”
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