The Venezuelan opposition led by Juan Guaido could soon become the owner of PDVSA’s U.S. refining business, Citgo, in what would only deepen the chaos surrounding the country’s state oil company. Guaido declared himself interim president and appointed an interim government in anticipation for new elections after he decried incumbent Nicolas Maduro’s second victory earlier this year. But the opposition leader and President of the opposition-dominated National Assembly also said he was about to announce an alternative board of directors for both PDVSA itself and Citgo as well. If this happens, Venezuela will not only have two presidents and two parliaments, but also two state oil companies. This plot that would fit right in among Hollywood blockbusters is a legal quagmire, to say the least. In fact, Bloomberg’s Davide Scigliuzzo calls it “a nightmarish legal situation”. It is indeed a nightmare: Citgo is registered in the United States, but […]