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Marianna Parraga

FILE PHOTO: A sign of Citgo Petroleum is seen at its headquarters in Houston, Texas, U.S., January 11, 2024. REUTERS/Go Nakamura/File Photo
BusinessCourtsFuelLiquefied Petroleum GasNewsOilPolitics

Citgo auction pits Icahn-backed oil refiner, creditor group

Icahn and creditors battle in final bids for Citgo, aiming to claim stakes in $21.3B Venezuelan debt auction.

FILE PHOTO: A man stacks gas canisters in a street stall, as Venezuela prepares for presidential elections, in Caracas, Venezuela July 20, 2024. REUTERS/Gaby Oraa/File Photo
AnalysisBusinessElectionsEmissionsFuelNatural GasOilPoliticsRegulations

Analysis: Whoever wins election, Venezuela faces natural gas problem

Venezuela faces critical gas shortages despite vast reserves, with upcoming elections intensifying debate over privatization and investment to revive production.

A drone view shows rain clouds approaching a damaged residence in the aftermath of Hurricane Beryl in Surfside Beach, Texas, U.S., July 9, 2024.  REUTERS/Adrees Latif
InfrastructureNewsOilResiliencyWeather

Texas power outages hinder Hurricane Beryl recovery, delay oil infrastructure restarts

Critical oil infrastructure in Texas has yet to be restored after state battered by Hurricane Beryl.

Oil tanks are pictured at Buckeye Partners' South Texas Gateway oil terminal in Corpus Christi, U.S.,  May 14, 2023. REUTERS/Arathy Somasekhar/File photo
ClimateNewsWeather

Port of Corpus Christi closes as Tropical Storm Beryl approaches Texas

The storm, which at one point intensified to a Category 5 hurricane, left a deadly trail of destruction across the Caribbean.

FILE PHOTO: A sign of Citgo Petroleum is seen at its headquarters in Houston, Texas, U.S., January 11, 2024. REUTERS/Go Nakamura/File Photo
BusinessNewsOil

Several competitive bids in auction of Citgo parent, reports court officer’s rep

The offers in Citgo Petroleum's bidding have proven to be complex, with many combining cash with credits bids.

FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York, U.S. on February 11, 2014.  REUTERS/Brendan McDermid/File Photo/File Photo
BusinessFinanceFuelNewsOil

Icahn-owned oil refiner CVR bidding in Citgo share auction: sources

CVR is working with investment bankers at Wells Fargo to raise the financing for its bid. The company has the support of Icahn...

FILE PHOTO: General view of Citgo Petroleum headquarters in Houston, Texas, U.S., January 11, 2024. REUTERS/Go Nakamura/File Photo
BusinessIndustryNewsOilPolitics

US court may put off hearing on Citgo bids to September

The auction is the culmination of a seven-year court battle seeking to satisfy $21.3 billion in claims against Venezuela.

FILE PHOTO: General view of Citgo Petroleum headquarters in Houston, Texas, U.S., January 11, 2024. REUTERS/Go Nakamura/File Photo
BusinessCourtsNewsOil

Complex bids could extend Citgo auction evaluation, sources say

The court-organized auction of the seventh-largest U.S. oil refiner aims to satisfy up to $21.3 billion in claims against Venezuela.

General view of Citgo Petroleum headquarters in Houston, Texas, U.S., January 11, 2024. REUTERS/Go Nakamura
BusinessCourtsEconomyFinanceNewsOilPolitics

Financial alliances build as Citgo share auction enters last mile

In the last mile of an unprecedented auction to pay up to $21.3 billion from past expropriations and debt defaults in Venezuela, a...

FILE PHOTO: An oil tanker sails on Lake Maracaibo, in Cabimas, Venezuela October 14, 2022. REUTERS/Issac Urrutia/File Photo
BusinessNewsOilPoliticsTrade

US to favor existing investors for Venezuela oil licenses: sources

The move appears designed to encourage companies that have projects frozen because of U.S. sanctions, such as Italy's Eni and Spain's Repsol, to...

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