Amber Energy has been declared the winner of the CITGO refineries and intends to keep the CITGO brand and operate it with new leadership focused on cost-cutting and operational improvements.
The eight-year legal clash over the coveted CITGO refinery assets just took another unexpected turn, leaving the potential sale up in the air. The winner of the auction for CITGO’s three large U.S. refineries, related pipelines and terminal assets remains uncertain as the auction faces additional legal hurdles. In today’s RBN blog, we’ll dive into the latest in the court case and what it could mean for the three refineries involved, which have a combined capacity of more than 800 Mb/d.
The bitter, eight-year battle to control CITGO Petroleum’s three U.S. refineries could soon be coming to an end. A Delaware court has recommended a $7.38 billion bid from Dalinar Energy Corp., the U.S. subsidiary of Canadian miner Gold Reserve Ltd. There’s opposition, but a final decision could be just weeks away. In today’s RBN blog, we’ll discuss what a resolution would mean for the three refineries, which have a combined capacity of more than 800 Mb/d.
