Investment bank Lazard Ltd has asked bidders that have shown interest in buying Citgo Petroleum Corp's U.S. refineries to submit an additional round of offers, people close to the deal told Reuters this week as the sale process proceeds despite doubts. Venezuela's state-run oil company PDVSA hired Lazard to handle the sale process for Citgo, its refining unit in the United States. An initial round of offers was tabled at the end of September with several companies showing interest, the sources said.Representatives for Citgo and Lazard declined to comment. A representative for PDVSA was not immediately available to comment.The people said there has been robust interest in the Citgo refining assets among HollyFrontier Corp, Valero Energy Corp, Western Refining Inc, Reliance Industries Ltd and PBF Energy Inc.Representatives for Reliance, Western Refining, and HollyFrontier, were not immediately available for comment.
Lazard Ltd (Lazard) is a holding company. Lazard is a financial advisory and asset management company. Shares of LAZ fell by 3.2% or $-1.63/share to $49.26. In the past year, the shares have traded as low as $35.82 and as high as $55.50. On average, 719989 shares of LAZ exchange hands on a given day and today's volume is recorded at 801117.
PBF Energy Inc. (PBF Energy) is an independent petroleum refiners and suppliers of unbranded transportation fuels, heating oils, petrochemical feedstocks, lubricants and other petroleum products in the United States. Shares of PBF fell by 3.82% or $-0.935/share to $23.54. In the past year, the shares have traded as low as $21.77 and as high as $32.48. On average, 1616850 shares of PBF exchange hands on a given day and today's volume is recorded at 2330533.
Valero Energy Corporation (Valero) is an independent petroleum refining and marketing company. Shares of VLO fell by 2.99% or $-1.4/share to $45.44. In the past year, the shares have traded as low as $34.48 and as high as $59.69. On average, 7196780 shares of VLO exchange hands on a given day and today's volume is recorded at 7942274.
Western Refining, Inc. (WNR) is an independent crude oil refiner and marketer of refined products and also operates service stations and convenience stores. Shares of WNR fell by 3.67% or $-1.54/share to $40.42. In the past year, the shares have traded as low as $30.50 and as high as $48.36. On average, 1571460 shares of WNR exchange hands on a given day and today's volume is recorded at 1459344.
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