Citgo is formally cutting ties with its parent company PDVSA, in order to avoid the impact of US sanctions on the Venezuelan state-owned oil company and keep Citgo’s refineries and pipeline systems in operation, sources said Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “What we want is to lift sanctions on CITGO,” according to a source close to Venezuelan opposition leader Juan Guaido, who the US and other nations recognize as Venezuela’s legitimate president. A US-based source said Citgo expects to receive a general license, or waiver, from US Treasury as soon as this week, which would prevent the US refiner from being ensnared in US sanctions on PDVSA and the regime of Venezuelan President Nicolas Maduro. Under the plan, which one source said began over a week ago, Citgo will not buy nor send refined products to PDVSA, will separate […]