Citgo auction proceeds even after Venezuelan minister says canceled - sources

At least three oil companies are still actively bidding for Citgo Petroleum Corp, the U.S. refining arm of Venezuela's PDVSA, even after the country's finance minister said that the auction was no longer going ahead, according to three people familiar with the situation. The investment bank hired by PDVSA to conduct the sale, Lazard Ltd, has not ended the sale process, the people said on Tuesday, and a deadline for a second round of bids is expected later this month. The people declined to be named because they were not authorized to speak publicly. More…