Venezuela Citgo Petroleum on track for USD 2.5bn profit in 2022 - supervisory board According to the board that oversees the Houston-based corporation, refiner Citgo Petroleum is on track to make a USD 2.5bn profit this year, which it intends to use towards paying down debt and improving the dependability of its operations.

 

Weekly Newsletter 28th-30th December 2022 This material does not constitute 'investment research' as defined by the rules of the Financial Conduct Authority. This material is not intended for Retail Clients, Details and listings for these and other assets are available on the IlliquidX Platform on www.illiquidx.com

Sovereigns Venezuela Citgo Petroleum on track for USD 2.5bn profit in 2022 - supervisory board According to the board that oversees the Houston-based corporation, refiner Citgo Petroleum is on track to make a USD 2.5bn profit this year, which it intends to use towards paying down debt and improving the dependability of its operations. Venezuela opposition vote to remove Guaido's interim government To form a unified front before the likely 2024 presidential elections, Venezuela's political opposition to the country's governing Socialists overwhelmingly voted last Thursday to overthrow the Juan Guaido-led interim administration. Three of the four main opposition organisations supported the move, but Guaido's Popular Will opposed it. Before it can be approved, the motion must go through another consultation, which is slated for this week. Opposition leader last week, such as, Henrique Capriles (PJ), Gustavo Duque (FV), and Julio Borges, former VP of the 2015 National Assembly and former ally of Guaido, all rejected the continuance of the interim government headed by Guaido. In the last months, many opposition parties showed their discontent with Guaido and the management of the interim government.  It was disclosed that, with the pressure and help of the US government, the Guaido administration offered opposition officials/leaders/delegates facilitation to US VISAs and significant positions in a future hypothetical government in a way to persuade the voters to vote for the continuance of the interim government. The top parties who voted against and proposed a new plan for the replacement of the Guaido Interim government were Primero Justicia, Fuerza Vecinal, Un Nuevo Tiempo and Accion Democratica Popular Will, Guaido’s party, voted in favour. The proposal was approved with 72 votes in favour during a virtual meeting. The bill will now go to a committee, and then return to a second discussion which will happen sometime this week. Citgo announces cancellation of millionaire debt of more than one billion dollars Citgo Petroleum Corporation paid USD 1.056bn. The figure corresponds to the entire outstanding debt of the secured Prime Term B Loan, maturing in March 2024.  Payment was made entirely in cash. Spain appoints ambassador to Venezuela after 2-year vacancy Spain appointed Ramon Santos as the new Ambassador to Venezuela after two years without a top envoy, according to the minutes of a cabinet meeting.  The appointment of Santos, who was serving as charge d’affaires in Caracas, was approved on Tuesday. Issuer Ticker Bid Ask Republic of Venezuela VENZ 13 ⅝ 08/15/18 8.75 9.75 Republic of Venezuela VENZ 7 12/01/18 7.5 8.5 Republic of Venezuela VENZ 7¾ 10/13/19 7.5 8.5 Republic of Venezuela VENZ 6 12/09/20 7.5 8.5 Republic of Venezuela VENZ 12¾ 08/23/22 8.5 9.5 Republic of Venezuela VENZ 9 05/07/23 7.75 8.75 Republic of Venezuela VENZ 8¼ 10/13/24 7.75 8.75 Republic of Venezuela VENZ 7.65 04/21/25 7.75 8.75 Republic of Venezuela VENZ 11¾ 10/21/26 8.75 9.75 Republic of Venezuela VENZ 9 ¼ 09/15/27 8.75 9.75 Republic of Venezuela VENZ 9¼ 05/07/28 8.25 9.25 Republic of Venezuela VENZ 11.95 08/05/31 8.75 9.75 Republic of Venezuela VENZ 9 3/8 01/13/34 8 9 Republic of Venezuela VENZ 7 03/31/38 7.75 8.75 Republic of Venezuela ICSID Claims Call desk for Prices Petróleos de Venezuela SA PDVSA 8½ 10/27/20 19 20 Petróleos de Venezuela SA PDVSA 9 11/17/21 4.5 5.5 Petróleos de Venezuela SA PDVSA 12¾ 02/17/22 4.5 5.5 Petróleos de Venezuela SA PDVSA 6 10/28/22 2.5 3.5 Petróleos de Venezuela SA PDVSA 6 5/16/24 4.5 5.5 Petróleos de Venezuela SA PDVSA 6 11/15/26 4.5 5.5 Petróleos de Venezuela SA PDVSA 5⅜ 04/12/27 4.5 5.5 Petróleos de Venezuela SA PDVSA 9¾ 05/17/35 4.5 5.5 Petróleos de Venezuela SA PDVSA 5½ 04/12/37 4.5 5.5   *Indicative price for position with institutional size only. For smaller sizes please call desk.