The change of the audience was approved after two new offers were recently presented. In a press release, Carlos Jordá, executive president of Citgo, reported that “the refineries operated efficiently in the second quarter, with high levels of processing, and without scheduled plant stops”
A Federal Court of the United States approved on August 14 the reprogramming of the Sales Hearing of the Venezuelan Refinery Citgo Petroleum, originally scheduled for next week.
In a note published by Reuters, it was reported that the change was approved after two offers not requested by subsidiaries of the Elliott Investment Management Coverage Fund and the house of vitol raw materials were recently submitted, after a judicial official who supervised the auction recommended a different offer by a unit of the Gold Reserve mining company.
According to the information obtained by the agency, the new date for the final hearing on the Centa of the shares will be set once the court receives the contributions of agent Robert Pincus, the parties in the process and the creditors, according to the judge of Delaware Leonard Stark in his order. The court plans to hold a face -to -face hearing on Monday to listen to the parties.
*Read also: the conversation | Horacio Medina: “With a political change Citgo can be rescued”
High levels of processing in Citgo
In a press release, Citgo reported on August 14 its financial and operational results corresponding to the second quarter of 2025.
“Its reliable and safe operations in a more favorable market environment generated a net profit in the second quarter of 100 million dollars, an Ebitda of 325 million dollars, and an adjusted Ebitda of 346 million dollars, compared to a net loss of 82 million dollars and an adjusted ebitda of 88 million dollars in the first quarter of 2025.”
The note cites statements by Carlos Jordá, executive president of Citgo, who reported that “the refineries operated efficiently in the second quarter, with high levels of processing, and without scheduled plant stops.”
With Reuters information
*Journalism in Venezuela is exercised in a hostile environment for the press with dozens of legal instruments arranged for the punishment of the word, especially the laws “against hatred”, “against fascism” and “against blockade.” This content was written taking into consideration the threats and limits that, consequently, have been imposed on the dissemination of information from within the country.
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