Venezuela vilifies US-ordered 'forced sale' of oil co

CARACAS, Dec 03 (AFP): Venezuela on Tuesday denounced what it called the "forced sale" of its most valuable overseas asset, oil company Citgo, after a US court authorized the transaction to pay off creditors.

Citgo, a Houston-based subsidiary of Venezuela's PDVSA state oil company, is in the crosshairs of creditors seeking the settlement of debts in excess of $20 billion that cash-strapped Caracas has been unable or unwilling to pay.

Last week, a Delaware court authorized Citgo's sale, the latest chapter in a long-running legal dispute. The decision still needs US government authorization.