Citgo Petroleum
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Delaware Court Extends Citgo Sale Process Topping Period to June 18, 2025, and Confirms Other Deadlines
Gold Reserve Ltd. announced a deadline extension in the Citgo Petroleum sale linked to Venezuela. The U.S. District Court granted the Venezuelan parties more time to submit bids for PDVH, Citgo’s holding company, with a new “Topping Period” deadline of June 18, 2025. Key dates for legal proceedings were also outlined, including a final recommendation by June 27, 2025, and a sale hearing on July 22, 2025. Gold Reserve anticipates bidding but acknowledges the deal faces significant risks, including potential regulatory challenges.
