Informational Materials

Total Page:16

File Type:pdf, Size:1020Kb

Informational Materials /2021 2:47:42 PM ILLINOIS CITGO Our Economic Impact at a Glance FUELING GOOD A ARLINGTON HEIGHTS CICERO LEMON! JOUET PEORIA BLOOMINGTON • REFINERIES O REFINED PRODUCT TERMINALS SPRNG ELD • MARINE DOCKS GAS STATIONS Our Illinois Oporations CITGO has been part of the Illinois community for more than 90 including ultra-low sulfur diesel. The CITGO Lemont Refinery years. Our operations in the state include a refinery, products benefits the surrounding communities, not only as a major terminals, a lubricants plant and several miles of pipelines. The supplier of petroleum products, but as a major employer, CITGO Lemont Refinery is a strategic supplier of transportation taxpayer and good neighbor. fuels, particularly in the upper Midwest. The refinery has a crude processing capacity of 167,000 barrels-per-day <bpd) Our refinery employs approximately 550 regular full-time and manufactures several grades of gasoline, diesel, jet fuel employees in Illinois and an additional 500 contractors. The and high-quality hydrocarbon solvents used in the production state of Illinois also has more than 290 independently owned of paints, adhesives and coatings. The original CITGO Lemont CITGO retail stations which provide employment to more than Refinery was built in the early 1920s with a crude capacity of 3,480 state residents. 25,000 bpd. Additional expansion has brought the refinery to its present state as a modern, well-configured facility capable of refining heavy crude oils into high-quality finished products, Received by NSD/FARA 2:47:42 PM CITGO Illinois Annual Economic Impact $477.9 CITGO Illinois Community Impact As a corporation, we invest millions of dollars in contributions and thousands of dedicated volunteer hours in social development efforts, right here in the Prairie State, aimed at creating sustainable communities. Our volunteers support many local organizations and nonprofits, donating time and money to improve the quality of life of Illinoisans. CITGO Illinois Lemont Lemont Refining Capacity: Volunteer Hours DonationsTotal (Barrels Per Bay) More than More than Jobs: Employees Contractors 2,300 $900,000 (Lemont, ii.il (2016) (2016) Terminals) More than 550 500 United Way: Muscular Dystrophy CITGO lllinoisTerminals: Arlington Heights Over S2.2 million Association: Lemont raised since 1998. Over S4 million CITGO Illinois raised since 2009. Lubricants Plant: Cicero National Multiple Sclerosis Society: Ronald McDonald House: Over $275,000 We offer financial and volunteer raised since 2005. support for Ronald McDonald CITGO Illinois Safety House Charities of Chicagoland Food Pantry Collection and Northwest Indiana including & Environmental Impact Drives: Annually we host food beautification projects. pantry collections in support CITGO is driven by our commitment to safeguard the well-being of 6 area pantries. Household Hazardous Waste of our employees, our neighbors and the environment we share. & Electronics Collection Day: The CITGO Lemont Refinery has attained an industry safety Sponsors the Village of More than 275,000 pounds of leadership position and has been recognized year after year by Lemont's Oil Collection Drive: electronic waste collected for the American Fuel & Petrochemical Manufacturers Association More than 1,000 gallons of oil recycling since 2003. (AFPM) with numerous safety awards. We comply with or exceed collected for recycling annually all applicable environmental regulations and strive to improve our since 2003. performance. Since 2007, we have reduced air emissions by about 47 percent and reduced water-usage by 69 percent. CITGO Illinois Marketing Impact More than More than More than 290 3,480 1.9 Billion Gallons Branded Stations Jobs at Finished Products Independently-Owned Gas Stations Delivered Annually CITGO www.CITGO.com Received by NSD/FARA Registration Unit 08/03/20212:47:42 PM ceived by NSD/FARA Registration Unit 08/03/202 ■^47:42 PM Our Louisiana Impact at a CITGO Glance FUELING GOOD- LAKE CHARLES BATON ROUGE Pipelines continued to Texas NEW ORLEANS REFINERY + MARINE DOCK +TERMINAL GAS STATION PIPELINE Our Louisiana Operations CITGO has been part of the Louisiana community for nearly 75 As the largest of the three CITGO refineries, the Lake Charles years. Our operations in the state include a refinery, products Manufacturing Complex consists of a modern, deep conversion terminal and several miles of pipeline. Built in 1944, our Lake facility with a crude oil refining capacity of 425,000 barrels-per- Charles Manufacturing Complex is the sixth-largest refining day (bpd). Our refinery employs approximately 1,000 regular facility in the United States. Strategically located on 2,000 full-time employees and an additional 750 contractors in acres along the banks of the Calcasieu Ship Channel, the Southwest Louisiana. The state of Louisiana also has more than complex is recognized as a leading manufacturer of high-quality 90 independently owned CITGO retail stations which provide transportation fuels and petrochemicals. employment to more than 1,000 state residents. ▲ CITGO. CITGO Louisiana Annual Economic Impact: FUELING GOOD* $570 (2018) CITGO Louisiana Community Impact As a corporation, we invest millions of dollars in contributions and thousands of dedicated volunteer hours in social development efforts, right here in the Bayou State, aimed at creating sustainable communities. Our volunteers support many local organizations and nonprofits, donating time and money to improve the quality of life of Louisianans. Lake Charles Lake Charles More than More than Volunteer Hours DonationsTotal More than More than Jobs: 1,000 750 3,300 $516,700 Employees Contractors (2018) (2018) 425,00(k Muscular United Way: CITGO (Barrels-Per-Day) Dystrophy More than E-Recycle Day: Association: $15 million Approximately Finished Products More than since 1975. 392 tons of Delivered Annually: 321 MillionGallons (within La.) $5 million electronics collected since 1985. and recycled since 2009. CITGO Louisiana Terminals: Lake Charles STEM Education: CITGO Louisiana Pipelines: Lake Charles, La. to In 2018, we invested $35,000 in the CITGO STEM Talent Pipeline Mont Belvieu, Texas Initiative in Louisiana to build a stronger workforce of the future. In addition, we started the first CITGO Innovation Academy at E.K. Lake Charles, La. to Key Elementary in Southwest Louisiana. Sour Lake, Texas Louisiana Scholarships: In 2018, CITGO committed $300,000 to the McNeese State CITGO Louisiana Marketing Impact University (MSU) First Choice Campaign to be awarded throughout the next three years. The First Choice campaign funds will hire More than More than faculty and upgrade labs in high demand academic areas while the university implements a strategic plan to increase enrollment and retention. In addition, CITGO granted $10,000 in scholarships funds 90 1,000 to MSU engineering students and $4,750 in scholarship funds to Independently-Owned students in business disciplines. Branded Stations Jobs at Gas Stations Caring for Our Coast Environmental Program: CITGO Lake Charles Refinery and The Nature Conservancy joined CITGO Louisiana Safety forces with community volunteers to help restore the Cameron Prairie National Wildlife Refuge in 2018. CITGO also partnered & Environmental Impact with Restore the Earth to plant Cypress trees in Terrebonne and Lafourche Parishes. According to data published by the American Fuel & Petrochemical Manufacturers Association (AFPM), year after year, CITGO is Invested $170,000 in 2018 and nearly $1.8 million since 2014. an industry leader in safety performance. Operating safely and - Over 1,400 volunteers involved responsibly allows CITGO to keep our commitment to our personnel, - Over 2,255 acres restored our community, and our way of life in Southwest Louisiana. To that - Over 415,100 grass plugs and plants planted end, we consistently strive to improve the water and air quality of - More than 700 lbs. of trash collected our area through process improvements and projects, lowering our emissions every year since 2007, and reducing our water-usage on Learn more about our impact and programs at www.CITGO.com a per barrel basis by 74 percent. G PA-201903-248 '£-2019 CTTGO Petroleum Corporaiion :0212:47:42 PM Our Texas Impact at a CITGO Glance FUELING GOOD* Pipeline continued to La HOUSTON SAN ANTONIO HEADQUARTERS VICTORIA REFINERY + MARINE DOCK + TERMINAL CORPUS CHRISTI O REFINED PRODUCT TERMINAL GAS STATION — PIPELINE BROWNSVILLE Our Texas Operations CITGO has been part of the Texas community for more than The CITGO Corpus Christi Refinery benefits the surrounding 80 years. Our operations in the state include a refinery, our corporate communities, not only as a major supplier of petroleum products, office, products terminals and several miles of pipelines. Built in but as a major employer, taxpayer and good neighbor. the mid-1930s, the CITGO Corpus Christi Refinery is one of the most sophisticated and efficient fuel and petrochemical refineries in More than 2,300 employees and contractors are employed at our the nation. With a crude refining capacity of approximately 157,000 Houston Corporate Headquarters office and CITGO Corpus Christi barrels-per-day (bpd) and a versatile product mix, which includes an Refinery. The state of Texas has more than 290 independently owned average of 4.2 million gallons of gasoline, it supplies not only high- and operated CITGO retail stations which provide employment to octane gasoline for automobiles, but also the basic building blocks more than 3,500 state residents. In Texas
Recommended publications
  • Court File No. CV-11-9532-00CL ONTARIO SUPERIOR COURT of JUSTICE COMMERCIAL LIST BETWEEN
    Court File No. CV-11-9532-00CL ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST B E T W E E N: IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT, 1985, c. C-36 AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF CRYSTALLEX INTERNATIONAL CORPORATION ______________________________________________________________________ SUPPLEMENTAL RECORD OF THE DIP LENDER (Motion Returnable: April 11, 2016) ______________________________________________________________________ April 10, 2016 CASSELS BROCK & BLACKWELL LLP Barristers and Solicitors Scotia Plaza 40 King Street West Suite 2100 Toronto, ON M5H 3C2 Timothy Pinos LSUC #: 20027U Tel: 416.869.5784 Fax: 416.350.6903 [email protected] Shayne Kukulowicz LSUC #: 30729S Tel: 416.860.6463 Fax: 416.640.3176 [email protected] Ryan C. Jacobs LSUC #: 59510J Tel: 416.860.6465 Fax: 416.640.3189 [email protected] Lawyers for the DIP Lender TO: DAVIES WARD PHILLIPS & VINEBERG LLP Barristers and Solicitors 155 Wellington Street West 40th Floor Toronto ON M5V 3J7 Jay Swartz LSUC #: 15417L James Doris LSUC #: 33236P Natalie Renner LSUC #: 55954A Tel: 416.863.0900 Fax: 416.863.0871 Lawyers for Crystallex International Corporation AND TO: STIKEMAN ELLIOTT LLP Barristers and Solicitors 5300 Commerce Court West 199 Bay Street Toronto ON M5L 1B9 David Byers Tel: 416.869.5697 Fax: 416.957.0866 [email protected] Maria Konyukhova Tel: 416.869.5230 Fax: 416.957.0866 [email protected] Lawyers for Ernst & Young Inc., in its capacity as the monitor AND TO: GOODMANS
    [Show full text]
  • CLIPPING - Notícias
    - Representação Brasileira - CLIPPING - Notícias 08.12.2017 Edição e Seleção Elyesley Silva Fernanda Preve Fernando Leão Maria Elisabete da Costa Sumário CÂMARA NOTÍCIAS .......................................................................................... 3 Política .................................................................................................................. 3 Câmara aprova tratado sobre comércio de armas e cria grupo parlamentar .......................... 3 SENADO NOTÍCIAS .......................................................................................... 4 Internacional .......................................................................................................... 4 Plenário aprova adesão do Brasil à segunda fase do Protocolo de Kyoto .............................. 4 VALOR ECONÔMICO ......................................................................................... 5 Empresas ............................................................................................................... 5 GM planeja vender carro elétrico no Brasil em 2018 ............................................................ 5 ESTADO DE SÃO PAULO ................................................................................... 7 Internacional .......................................................................................................... 7 Estatal chinesa abre disputa comercial nos EUA contra petroleira venezuelana ..................... 7 CLARÍN (ARGENTINA) .....................................................................................
    [Show full text]
  • Anticipating Venezuela's Debt Crisis: Hidden Holdouts and the Problem
    ANTICIPATING VENEZUELA’S DEBT CRISIS: HIDDEN HOLDOUTS AND THE PROBLEM OF PRICING COLLECTIVE ACTION CLAUSES ROBERT E. SCOTT, STEPHEN J. CHOI & MITU GULATI ABSTRACT A creditor who asks for stronger enforcement rights upon its debtor’s default will rationally accept a lower interest rate reflecting the greater expected recovery the exercise of those rights provides. Over a dozen studies, however, have failed to document this basic relationship in the context of the collective action clause, a key provision in sovereign bonds. We conjecture that this failure is because enforcing the rights in question requires collective decision-making among anonymous creditors with different interests, impeding market predictions regarding future price effects. The pricing of rights that require collective enforcement thus turns on whether the market observes an activist creditor willing to serve as a collectivizing agent to enforce the relevant rights in litigation. When activist creditors, intent on litigating, hide from the market in order to enhance their returns, the market lacks the information to price the collective rights accurately. In this Article, we use data from Venezuela’s ongoing debt crisis to test this collective action story. Our data provides evidence of the absence of price differences in contract terms that require collective decision-making for enforcement. Conversely, we find that in those situations where the market identifies the presence of an activist creditor, the relevant rights do get priced. This evidence sheds light on how the absence of efficient pricing of terms in these collective markets can impede efforts by defaulting sovereign debtors, like Venezuela, to restructure their obligations.
    [Show full text]
  • Some Suppliers Worry About Tesla Tion’S Internal Deliberations
    . ****** TUESDAY, AUGUST 21, 2018 ~ VOL. CCLXXII NO. 43 WSJ.com HHHH $4.00 DJIA 25758.69 À 89.37 0.3% NASDAQ 7821.01 À 0.1% STOXX 600 383.23 À 0.6% 10-YR. TREAS. À 14/32 , yield 2.823% OIL $66.43 À $0.52 GOLD $1,186.80 À $10.30 EURO $1.1484 YEN 110.07 What’s Long Wait Ends With an Embrace for Separated Korean Families U.S. News Toughens Business&Finance Stance esla’s tumultuous year On China Thas fueled concern among some suppliers about the electric-car maker’s fi- Tariffs nancial strength, after pro- duction of the Model 3 BY BOB DAVIS drained some of its cash. A1 AND ANDREW DUEHREN PepsiCo agreed to buy WASHINGTON—The Trump seltzer-machine maker administration is moving SodaStream for $3.2 billion, closer this week to levying tar- the company’s latest move iffs on nearly half of Chinese to broaden its offerings. A1 imports despite broad opposi- Tyson Foods struck a tion from U.S. business and deal to acquire Keystone the start of a fresh round of Foods, a top meat supplier talks between the U.S. and to McDonald’s and other China aimed at settling the chains, for $2.16 billion. B1 trade dispute. The twin administration ini- France’s Total is having tiatives—pursuing tariffs on difficulty unloading its $200 billion of Chinese goods stake in a $5 billion natu- while relaunching talks to ral-gas project in Iran to a scrap tariffs—reflect a split Chinese partner.
    [Show full text]
  • Venezuela's Tragic Meltdown Hearing
    VENEZUELA’S TRAGIC MELTDOWN HEARING BEFORE THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS HOUSE OF REPRESENTATIVES ONE HUNDRED FIFTEENTH CONGRESS FIRST SESSION MARCH 28, 2017 Serial No. 115–13 Printed for the use of the Committee on Foreign Affairs ( Available via the World Wide Web: http://www.foreignaffairs.house.gov/ or http://www.gpo.gov/fdsys/ U.S. GOVERNMENT PUBLISHING OFFICE 24–831PDF WASHINGTON : 2017 For sale by the Superintendent of Documents, U.S. Government Publishing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate 0ct 09 2002 12:45 May 02, 2017 Jkt 000000 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 F:\WORK\_WH\032817\24831 SHIRL COMMITTEE ON FOREIGN AFFAIRS EDWARD R. ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. ENGEL, New York ILEANA ROS-LEHTINEN, Florida BRAD SHERMAN, California DANA ROHRABACHER, California GREGORY W. MEEKS, New York STEVE CHABOT, Ohio ALBIO SIRES, New Jersey JOE WILSON, South Carolina GERALD E. CONNOLLY, Virginia MICHAEL T. MCCAUL, Texas THEODORE E. DEUTCH, Florida TED POE, Texas KAREN BASS, California DARRELL E. ISSA, California WILLIAM R. KEATING, Massachusetts TOM MARINO, Pennsylvania DAVID N. CICILLINE, Rhode Island JEFF DUNCAN, South Carolina AMI BERA, California MO BROOKS, Alabama LOIS FRANKEL, Florida PAUL COOK, California TULSI GABBARD, Hawaii SCOTT PERRY, Pennsylvania JOAQUIN CASTRO, Texas RON DESANTIS, Florida ROBIN L. KELLY, Illinois MARK MEADOWS, North Carolina BRENDAN F. BOYLE, Pennsylvania TED S. YOHO, Florida DINA TITUS, Nevada ADAM KINZINGER, Illinois NORMA J.
    [Show full text]
  • ENERGY ADVISOR a WEEKLY PUBLICATION of the DIALOGUE September 16, 2016
    LATIN AMERICA ADVISOR ENERGY ADVISOR A WEEKLY PUBLICATION OF THE DIALOGUE www.thedialogue.org September 16, 2016 BOARD OF ADVISORS FEATURED Q&A TOP NEWS Mary Rose Brusewitz Partner, OIL & GAS Strasburger & Price Can Temer Boost Jeffrey Davidow Lula Charged Senior Counselor, in Petrobras The Cohen Group Brazil’s Struggling Graft Case Ramón Espinasa Consultant, Brazilian prosecutors on Inter-American Development Bank Energy Sector? Wednesday fi led charges against Luis Giusti former President Luiz Inácio Lula Senior Advisor, da Silva, his wife and six others Center for Strategic & in connection with the massive International Studies corruption scheme at state-run oil Jonathan C. Hamilton company Petrobras. Partner, Page 2 White & Case Raul Herrera Partner, POWER SECTOR Corporate & Securities Practice, Arnold & Porter IEnova Plans to James R. Jones Raise Over $1 Bn Chairman, ManattJones Global Strategies in Share Off ering Jorge Kamine Brazilian President Michel Temer has vowed to implement policies with the goal of attracting Mexican energy infrastructure Counsel, investment in the energy sector. // File Photo: Brazilian Government. company Infraestructura Energet- Skadden Arps ica Nova plans to raise more than Craig A. Kelly $1 billion in a secondary share of- Michel Temer was sworn in as Brazil’s president on Aug. Director, fering next month, which would be Americas Int’l Gov’t Relations, 31, replacing ousted President Dilma Rousseff. How will one of the biggest Mexican equity Exxon Mobil the change in government, which puts Temer in power
    [Show full text]
  • Access the Report
    Americas Society and Council of the Americas — uniting opinion leaders to exchange ideas and create solutions to the challenges of the Americas today Americas Society Americas Society (AS) is the premier forum dedicated to education, debate, and dialogue in the Americas. Its mission is to foster an understanding of the contemporary political, social, and economic issues confronting Latin America, the Caribbean, and Canada, and to increase public awareness and appreciation of the diverse cultural heritage of the Americas and the importance of the Inter-American relationship.1 Council of the Americas Council of the Americas (COA) is the premier international business organization whose members share a common commitment to economic and social development, open markets, the rule of law, and democracy throughout the Western Hemisphere. The Council’s membership consists of leading international companies representing a broad spectrum of sectors including banking and finance, consulting services, consumer products, energy and mining, manufacturing, media, technology, and transportation.2 1 Americas Society is a tax-exempt public charity described in 501(c)(3) and 509(a)(1) of the Internal Revenue Code of 1986. 2 Council of the Americas is a tax-exempt business league under 501(c)(6) of the Internal Revenue Code of 1986, and as such, actively pursues lobbying activities to advance its purpose and the interests of its members. Americas Society Council of the Americas Annual Report 2016 Chairman’s Letter 2 President’s Letter 3 Americas Society
    [Show full text]
  • Agenda 8:00 9:00 9:30 9:40 10:10 10:15 10
    Thought Leaders Round Table - Sat. 17 May - FIU - Miami Agenda 8:00 Registration of Round Table guests and observers Breakfast 9:00 Welcome by Frank Gaffney - CEO Center for Security Policy Agenda by Michael Rowan & Luis Fleischman - Moderators Statements by: US Rep. Ileana Ros-Lehtinen US Rep. Debbie Wasserman Schultz US Sen. Marco Rubio US Sen. Bill Nelson 9:30 Address by: US Rep. Mario Diaz Balart 9:40 Presentation by: Luis Fleischman and Michael Rowan 10:10 Presentation by Russ Dallen - Caracas Capital Markets/Latin American Herald Tribune 10:15 Coffee break 10:30 Round Table guests speak (1 to 2 minutes each, please) 12:00 Wrap Up by Michael Rowan, Luis Fleischman & Frank Gaffney Thought Leaders Round Table - Sat. 17 May - FIU - Miami Round Table Questionnaire Do you agree or disagree that: There is no military, violent solution comment to the current crisis. Violence only generates more violence in return. So the path to pursue is one of rebuilding trust, institutions, the rule of law and democracy, no matter how difficult the task. Agree Disagree Unsure Venezuela has a history of comment democracy and a culture of individualism that fundamentally unites the population. The class warfare, polarization and conflict generated since 1998 were fabricated in order to fool people and get power. So a government for all Venezuelans remains a very powerful proposition. Agree Disagree Unsure Venezuela’s operating model comment establishes state monopolies with absolute discretion to use public power and money secretly. To succeed for all, Venezuela needs to deconstruct the state monopolies and separate governing powers to prevent corruption, theft, despotism and secrecy.
    [Show full text]
  • 2016 Conference Program (PDF)
    www.SouthFloridaBondTraders.org 6 SMARTER FASTER EFFICIENT BOND TRADING Contact us: +1 212 852 1204 [email protected] www.tradeweb.com ©2015 Tradeweb Markets LLC. All rights reserved. WELCOME Welcome to the 2016 South Florida Bond Traders Association Conference! While you are here, you will have the opportunity to participate in our product-specific sessions, discuss current issues facing our industry, and network with other fixed income professionals from around the country. We will be kicking things off with a welcome reception Thursday evening, and begin our product-specific sessions Friday morning. Friday afternoon has been left open for you to spend as you wish, whether networking with customers and attendees, or enjoying the resort amenities. We will come back together Friday night for a cocktail reception on “Sponsor Street” and then head to our product-specific dinners. Saturday morning is dedicated to our golf, fishing, and tennis tournaments, followed by an activities awards luncheon to close out the conference. The SFBTA has a mission of offering financial assistance to educational and charitable organizations in the South Florida area, and you are helping us achieve this goal! A portion of this year’s conference proceeds will be donated to: Boca Helping Hands Children’s Diagnostic & Treatment Center Habitat for Humanity of South Palm Beach County The Spirit of Giving Network I would like to thank our 2016 SFBTA Corporate Partners, Amherst Pierpont Securities, BNY Mellon, Incapital, JVB Financial Group, Mesirow Financial, and Multi-Bank Securities, for supporting our organization throughout the year. This conference could not happen without the generous support of our sponsors.
    [Show full text]
  • Complaint Filed by Conocophillips in the US District Court of Delaware
    Case 1:16-cv-00904-UNA Document 1 Filed 10/06/16 Page 1 of 23 PageID #: 1 IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE ) CONOCOPHILLIPS PETROZUATA B.V., ) PHILLIPS PETROLEUM COMPANY ) VENEZUELA LIMITED, CONOCOPHILLIPS ) GULF OF PARIA B.V. and CONOCOPHILLIPS ) HAMACA B.V., ) ) Plaintiffs, ) ) v. ) C.A. No. ) PETRÓLEOS DE VENEZUELA ) S.A., PDV HOLDING, INC., CITGO ) HOLDING, INC. and CITGO ) PETROLEUM CORPORATION, ) ) Defendants. ) ) COMPLAINT Plaintiffs ConocoPhillips Petrozuata B.V., Phillips Petroleum Company Venezuela Limited, ConocoPhillips Gulf of Paria B.V. and ConocoPhillips Hamaca B.V. (altogether “ConocoPhillips”), by their undersigned attorneys, and as for their Complaint against Defendants Petróleos de Venezuela, S.A. (“PDVSA”), PDV Holding, Inc., CITGO Holding, Inc. and CITGO Petroleum Corporation, allege a cause of action for fraudulent transfers as follows: Background 1. The Bolivarian Republic of Venezuela (“Venezuela”) confiscated and nationalized the Plaintiffs’ interests in major projects in the Orinoco Oil Belt worth billions of dollars. Having not received any compensation, ConocoPhillips brought three of the largest arbitration claims ever against both Venezuela and its state-owned oil company, PDVSA. The liability for the expropriation is not subject to any serious doubt; indeed, Venezuela has been Case 1:16-cv-00904-UNA Document 1 Filed 10/06/16 Page 2 of 23 PageID #: 2 adjudged liable and has even admitted that it owes compensation to ConocoPhillips (yet no payment is forthcoming). And PDVSA has only weakly contested its own liability. As described below, Plaintiffs bring this action because the Defendants have undertaken to fraudulently transfer, remove and/or encumber assets that could otherwise be subject to collection on eventual judgments confirming those arbitration awards.
    [Show full text]
  • Emerging Sovereign Debt Markets NEWS Table of Contents
    Emerging Sovereign Debt Markets NEWS Number 34 Week 19 – 25 August 2017 Table of contents ASIA ................................................................... 2 S&P director calls Latin American growth 'quite disappointing' ................................. 6 Afghanistan ................................................... 2 Argentina....................................................... 6 European Union approves €100 million package to support key reforms in Argentina posts primary fiscal deficit in Afghanistan .............................................. 2 July ........................................................... 6 China ............................................................. 2 Brazil ............................................................. 6 Chinese government debt risks under Brazil lower house approves main text of control ...................................................... 2 new BNDES benchmark rate ..................... 6 China to roll over 600 bln yuan of special Brazil council approves massive state treasury bonds ......................................... 3 asset plan through 2018 ........................... 6 Pakistan ........................................................ 3 Chile .............................................................. 7 Pakistan plans to raise up to US$1bn via Moody's changes outlook on Chile's sukuk or Eurobond .................................... 3 ratings to negative; affirms AA3 ratings ... 7 Philippines ..................................................... 3 Ecuador ........................................................
    [Show full text]
  • LATIN AMERICA 2014: ECONOMIC, LEGAL and POLITICAL TRENDS Update
    APRIL 2014 LATIN AMERICA 2014: ECONOMIC, LEGAL AND POLITICAL TRENDS JANE BUSSEY, SUSAN FAILLA, CARLOS GARCIA, JANE HOPWOOD AND DAVID YATES CRITICAL THINKING AT THE CRITICAL TIME™ LATIN AMERICA ECONOMIC TRENDS APRIL 2014 Table of Contents Introduction ...................................................................................................................................................................... 1 Economic Trends ............................................................................................................................................................. 1 Economic Indicators .................................................................................................................................................... 2 Inflation ................................................................................................................................................................... 2 Currencies ............................................................................................................................................................... 3 Commodity Prices ................................................................................................................................................... 3 Foreign Direct Investment ...................................................................................................................................... 3 Trade Deficits .........................................................................................................................................................
    [Show full text]