Venezuelan Shift: Citgo Boards to Dismantle After Political Overhaul

The Venezuelan opposition-controlled boards overseeing Citgo Petroleum are set to dissolve following directives from interim President Delcy Rodriguez. With her government now recognized by the U.S., steps are being taken to assert control over the refiner, switching legal representation from opposition-backed firms.

The Venezuelan opposition-controlled boards that have directed U.S. refiner Citgo Petroleum for the past seven years are set to disband this month, according to insiders.

The move follows Venezuelan interim President Delcy Rodriguez's strategic preparations to reclaim Citgo, which were initiated after the U.S. captured former President Nicolas Maduro, and her government gained official recognition from Washington.

Rodriguez has already swapped legal representatives that the opposition-led National Assembly had originally appointed. This upcoming dissolution of boards marks a significant shift in control over the state-owned refiner, Citgo.