Citgo, the PDVSA treasure for which Guaidó and Maduro fight

The biggest prize of the contest between Juan Guaidó and Nicolás Maduro for the control of Venezuela and its state oil company, Petróleos de Venezuela SA, It is located more than 3,000 kilometers northwest of Caracas.

Guaidó, president of the National Assembly, recognized by the United States as interim leader of Venezuela and who is setting up a parallel governmental structure while fighting against Maduro for control of the country, plans to announce new cards this week for PDVSA and Citgo. Maduro said that he would defend Citgo through lawsuits.

Chaos, insomnia, frantic cries: PDVSA struggles to survive

While PDVSA's oil production is in free fall and its domestic refining system has collapsed, Citgo Petroleum Corp., its US-based refining arm, is operating as usual despite US sanctions. Its three refineries in Texas, Louisiana and Illinois account for approximately 4% of the US's fuel production capacity. The gasoline and diesel they produce are sold primarily in more than 5,000 stations in the eastern United States.

Although Citgo is considered a liquidity generator, it presents some problems. Its badets have been used as collateral for PDVSA's debt, and companies with lawsuits against Venezuela are also haunting it.