Legal Victory for CITGO

A Delaware court affirmed the authority of the Guaido Government to make appointments to the CITGO Petroleum Corporation Board of Directors (in Jiménez et al. v. Palacios et al.). CITGO responded that this decision is an important victory. The Court’s affirmation of the Guaido government’s authority to appoint the directors of CITGO, through its authority to appoint the directors of PDVSA, follows more than a century of precedent, as well as multiple U.S. courts that have recognized the Guaido government as the legitimate representative of the Venezuelan people. We are grateful that the court has rejected the Maduro regime’s efforts to use the U.S. judiciary to advance their anti-democratic objectives. CITGO and its leadership will continue to focus on a core mission to deliver the top quality products and services that have ensured continued success for more than 100 years.