Sure! Siemens Energy has filed a lawsuit in Texas against Citgo Petroleum’s parent, PDV Holding, to recover about $200 million from a defaulted promissory note by Venezuela. This legal action is part of a broader strategy by creditors to secure claims from an ongoing auction of Citgo shares, which aims to address Venezuela’s expropriations and debt defaults.
U.S. natural gas prices NGc1 collapsed to multi-year lows earlier this year, with prices in the Waha hub NG-WAH-WTX-SNL, located in Permian shale basin in West Texas, turning negative a record number of times in 2024.
Curious Minds Corner
Question of the week
What is the process called where crude oil is heated and separated into different components?