TheLatin America Advisor features Q&A with leaders in politics, economics, and finance every business day. After reviewing the various arguments for and against a broad interpretation of validity, the court certified the question to the New York Court of Appeals. June 1 (Reuters) - Venezuela's political opposition on Tuesday approved the replacement of members of the boards overseeing Citgo Petroleum Corp as factions in the movement led by Juan Guaido try to gain greater influence over Houston-based oil refiner. Delaware Court of Chancery The underlying action, brought by a litigation trust on behalf of Petrleos de Venezuela, alleged conspiracy, antitrust, cybercrime, and fraud claims against various individuals and entities. The prices of Venezuelan government bonds rallied after National Assembly President Juan Guaid declared himself the countrys legitimate president and won official recognition from numerous countries, including the United States. The board of directors reports to an assembly constituted by the minister of energy and mines, who presides over it, and to those members of the Executive Cabinet designated by the president of the republic. WebPetrleos de Venezuela, S.A. y sus filiales (PDVSA) es una corporacin propiedad de la Repblica Bolivariana de Venezuela, creada por el Estado venezolano en el ao 1975, en Venezuela, unlike the Middle East or Iran, devised a concessionary system whereby most oil companies could operate, regardless of nationality, and production costs were much lower than in the United States, which accounted for 70% of total world oil production at the time. Additional reserves from the Orinoco oil belt have also contributed to the company's reserves. 4.139, published in the Extraordinary Official Gazette; 6,512, the president of the Bolivarian Republic of Venezuela, Nicols Maduro, appointed four new vice-presidents in the core areas of Petrleos de Venezuela, S.A. (PDVSA), as well as the new president of the Venezuelan Petroleum Corporation (CVP), a subsidiary that manages PDVSA's interests in joint exploration and production companies with national and foreign private oil companies.