Asdrubal Chavez Ratified as Head of Citgo Amid U.S. Authorization Uncertainty

Asdrubal Chavez has been confirmed as head of Venezuela's state-run PDVSA's U.S. subsidiaries. This move follows U.S. President Donald Trump's support of Delcy Rodriguez’s administration. Chavez previously had been denied a U.S. visa. Now, U.S. Treasury clearance is needed for Chavez and his team to officially take over Citgo.

This week, Venezuela's state-run oil company, PDVSA, reconfirmed Asdrubal Chavez as the head of its American subsidiaries: PDV Holding, Citgo Holding, and Citgo Petroleum. The decision aligns with U.S. President Donald Trump's backing of interim President Delcy Rodriguez's government.

Previously, Chavez was unable to secure a U.S. visa due to sanctions imposed in 2019. Now, he needs approval from the U.S. Treasury Department to assume his role at the refining company. The ownership might shift, contingent upon the Treasury's verdict on the U.S. court-administered sale of PDV Holding.

It's not yet clear if Rodriguez will pursue fresh U.S. approval for Chavez. Accompanying Chavez in the new leadership team are Nelson Ferrer, Alejandro Escarra, and Ricardo Gomez, who have been appointed as directors of the subsidiaries.

(With inputs from agencies.)