Citgo Petroleum Corp. energy price fixing

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Citgo Petroleum Corp.

Several companies filed a lawsuit and are seeking class action status alleging the Venezuelan owned refiner helped OPEC fix energy prices in the United States. The suit claims Citgo provided unlawful assistance to OPEC, and has implemented Venezuela's and OPEC's price fixing scheme in the United States. The complaint alleges, "Citgo has agreed with OPEC to provide the cartel, directly and through member nation Venezuela, with technical services and with information that greatly assist OPEC in its effort to fix the price of oil at anti-competitive levels."

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Last updated on Nov-20-06

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