June 04, 2019

CITGO Confirms Cooperation with U.S. Subpoena After Businessman Pleads Guilty to Bribing PdVSA

By Samuel Rubenfeld and Daniel Harris


CITGO Petroleum Corp. confirmed on Monday that it had received a subpoena from the U.S. Justice Department as part of a bribery investigation involving its sanctioned parent, Venezuelan state-owned oil company Petroleos de Venezuela, S.A. (PdVSA).

CITGO told Reuters and Bloomberg in an emailed statement that the company would cooperate fully with the investigation. "Earlier this year, under the direction of its newly appointed board, CITGO engaged outside counsel to conduct an independent investigation, and is committed to taking all appropriate remedial actions in response to the findings," the Houston-based company said.

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