Venezuela’s Citgo faces price-fixing lawsuit
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Several companies that buy oil products from Citgo Petroleum filed a lawsuit this week alleging that the Venezuelan-owned refiner helped OPEC fix energy prices in the U.S.
The suit is another blow for the company, which has been hit by calls for boycotts after Venezuelan President Hugo Chavez called President Bush “the devil” while addressing the United Nations in September.
The suit claims that Citgo “provided unlawful assistance to OPEC, and has implemented Venezuela’s and OPEC’s price-fixing scheme in the United States,” according to a release by lawyers for the plaintiffs.
A spokesman said Citgo was studying the allegations.
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