US Appeals Court Hears Citgo Sale Arguments

A US appeals court heard arguments regarding the court organized auction of Citgo Petroleum parent company. Opponents challenged the sale process over alleged conflicts of interest and low valuations while supporters defended the decision.

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FILE PHOTO: A drone view shows the Portuguese flagged oil and chemical tanker ship CB Pacific docked at the Moran Shipping Agencies’ Citgo Petroleum Quincy/Braintree Terminal, which according to the company handles home heating oil, gasoline and diesel, after the CB Pacific arrived from Quebec, Canada to Braintree, Massachusetts, U.S., March 18, 2026.   REUTERS/Brian Snyder/File Photo

A United States appeals court heard arguments on a $5.9 billion sale of Citgo Petroleum's parent company, pitting creditors against Venezuela on Wednesday afternoon.

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