US extends license protecting Citgo from creditors to March 2025

Reuters11-07

WASHINGTON/HOUSTON, Nov 7 (Reuters) - The U.S. Treasury Department on Thursday extended a license protecting Venezuela-owned Citgo Petroleum from bondholders to March 2025, a key decision as a 7-year case that could see the auction of the refiner's parent to pay creditors progresses in a Delaware court.

The Treasury Department also extended to May 2025 a separate license for U.S. oil service companies Halliburton HAL.N, SLB SLB.N, Baker Hughes BKR.O and Weatherford International WEATH.UL to maintain assets in Venezuela amid Washington's sanction regime on the South American country.

(Reporting by Daphne Psaledakis and Marianna Parraga)

((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters Messaging: @mariannaparraga))

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The U.S. Treasury Department on Thursday extended a license protecting Venezuela-owned Citgo Petroleum from bondholders to March 2025, a key decision as a 7-year case that could see the auction of the refiner's parent to pay creditors progresses in a Delaware court. 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