Amber Energy Acquires CITGO in Court-ordered Sale

A special master for a federal court in Delaware has named Amber Energy Inc. as its court-approved bidder for CITGO, one of the largest refiners and distributors of petroleum products in the U.S.

The winning bid, announced late Friday, places a $7.28 billion enterprise value on Houston-headquartered CITGO, whose assets include 3,600 employees, refineries in Corpus Christi, Tex., Lake Charles, La. and Lemont, Ill., along with 42 terminals, three lubricant blending plants, eight pipelines and a 4,300 customer base of CITGO-branded gas stations and convenience stores. The acquisition is expected to close in mid-2025.