Citgo Oil Auction Bids
This is a U.S. news story, published by Yahoo Finance, that relates primarily to Citgo Petroleum news.
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venezuelan debtsYahoo Finance
•Exclusive-Conoco emerges as surprise bidder in historic Citgo share auction
79% Informative
U.S. court auction weighing fate of Venezuela -owned oil refiner Citgo Petroleum has received bids using claims in lieu of cash.
Oil producer ConocoPhillips , the largest creditor in the case, submitted a credit bid using its claims.
Credit bids raise the prospect of insufficient cash to settle a total of $21 billion in claims accepted by the court.
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