Judge opens bidding for Citgo Petroleum to others

Seeking resolution: An Exxon service station in the United States. Proceeds from the sale of Citgo will be used to repay a long list of creditors, including Exxon Mobil. — Bloomberg

Wilmington (Delaware): A US judge has reset the bidding process for the parent company of Citgo Petroleum Corp, a move that is poised to create competition for Elliott Investment Management’s pursuit of the oil refiner.

Judge Leonard Stark ordered the bidding for the company to be reopened, allowing for new offers to be submitted.