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ConocoPhillips seeks to keep priority as creditor in Citgo auction

Summary by WTVB
HOUSTON (Reuters) – ConocoPhillips has filed a court motion to preserve the U.S. oil producer’s almost top priority among Citgo Petroleum creditors to cash proceeds from an auction of shares in the parent of the Venezuela-owned company. Citgo is the only asset of PDV Holding, which a U.S. district court in Delaware has found to be liable for Venezuela’s foreign debts. Conoco’s filing in the court follows lawsuits in Texas and New York by hol…
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