Guaido project results show a complete Citgo management failure because in three quarters it can only report 270 million dollars compared to 608 million in the same period of 2018. There were 851 million throughout the year and 243 in the 4th trimester
Citgo reports higher exports, crude throughputs
Published date: 01 April 2019
Citgo increased fuel exports and domestic crude processing last year, the company said in rare public guidance on the Venezuelan-controlled independent refiner’s operations.
The refiner reported crude throughputs of 716,000 b/d for 2018, a 9.1pc increase from the 656,333 b/d of crude processed in 2017, the company said in a brief operational update published late last week. Total throughputs were at 829,000 b/d last year. fuente: argusmedia.com/
Citgo Report was Removed from its website, the initial report published on Friday after Presentation of quarterly results on its board of directors designated by the Guaidó project. That report ensured that earnings had increased 76% compared to the 2nd quarter of 2019
That report was reviewed by Reuters, which highlighted an increase in net income for the quarter to 215 million dollars compared to 122 million in previous quarter, resulting in a 76.2% increase in profit. The office included the link, which is broken, to the report
A manual review of the notes in the newsroom section leads to an entry on the report, which (in the English version) confirms that in the 3rd quarter revenue was 215 million dollars but changes figure of previous ones by reporting 270 as a total of the year
Additionally, the Spanish version published by Citgo is totally different from the original one in English, and among other individuals it doesn’t include any figures on results that were presented at the meeting and whose disclosure’s publication purpose.
In summary: Guaido project results show a resounding failure of its management in Citgo because in three quarters it can only report 270 million dollars compared to 608 million in the same period of 2018. There were 851 million throughout the year and 243 in the 4th quarter
Fuente : @latablablog
And of course, scandalous cases of corruption in CITGO, such as Carlos Vecchio, who pocketed $ 70 million from Citgo, according to a US Justice investigation.
Minister , Jorge Rodríguez, revealed the United States Department of Justice (USA) initiated an investigation of the members of alleged directive appointed by Juan Guaidó in Citgo, after Check alteration of accounting books for payment of supposed 20-20 bonds.
“I have just received fresh data that indicates the US Department of Justice is very likely. open Ad Hoc inquiry to the board of directors that Guaidó appointed in the company Citgo, because they altered the accounting to exceed 70 million dollars in payment of interest, ”Rodriguez confirmed from the Miraflores Palace
“It seems person directly involved in having pocketed those 70 million dollars of surpluses due to alteration of accounting is Mr. Carlos Vecchio,” said the minister.
Vecchio is fugitive right-wing politician who self-appointed Guaidó as “ambassador” of Venezuela in Washington, and occupied the headquarters of the embassy that was illegally raided by police of that city even though he was being defended by US activists invited by the Bolivarian Government of the Constitutional President Nicolás Maduro Moros.