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Article Summary
- US court may reopen bidding for oil refiner Citgo after failed deal
- Citgo's parent company, PDVSA, failed to make payments on its bonds, leading to potential seizure of Citgo assets
- Citgo is a major player in the US refining industry, with several refineries and pipelines
- Potential bidders include oil companies and private equity firms
- The outcome of the court decision could have significant implications for the US oil industry Tone: informative, analytical
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U.S. Court Could Reopen Bidding For Oil Refiner Citgo After Failed Deal
A court adviser has proposed that the court-ordered auction of assets of Venezuelas PDV Holding, the parent company of refiner Citgo, should be restarted after the current winning bid has failed to gather enough support from the creditors of the Venezuelan group. The sale process of shares to pay creditors and claimants against Venezuelas oil asset appropriation and debts owed by Citgo was...
https://oilprice.com/Latest-Energy-News/World-News...
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