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Amber Energy Wins $5.9B Citgo Auction Amid Venezuela Crisis

1/6/2026

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Amber Energy Acquires Citgo

On January 6, 2026, Amber Energy, an Elliott Investment Management affiliate, won a court-supervised auction for Citgo valued at $5.9 billion amid Venezuela's crisis.
The Maduro government opposed the sale, calling it fraudulent.
Vice President Delcy Rodriguez indicated willingness to cooperate with the U.S. after pressure from U.S. President Donald Trump over the oil agenda.
Amber executives await further instructions from U.S. authorities on enforcement and asset conditions.

Left

Trump Captures Maduro

On January 6, 2026, U.S. forces captured Venezuelan President Nicolás Maduro in a raid ordered by U.S. President Donald Trump.
Trump announced the United States would manage Venezuela indefinitely.
Experts say the action is illegal.
Paul Singer acquired Citgo for $5.9 billion, far below Maduro's $18 billion valuation, aided by Venezuela's financial troubles.
Trump justified the action as a fight against drug trafficking, though Venezuela is not a fentanyl source.

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Amber Energy Acquires Citgo

On January 6, 2026, Amber Energy, an Elliott Investment Management affiliate, won a court-supervised auction for Citgo valued at $5.9 billion amid Venezuela's crisis.
The Maduro government opposed the sale, calling it fraudulent.
Vice President Delcy Rodriguez indicated willingness to cooperate with the U.S. after pressure from U.S. President Donald Trump over the oil agenda.
Amber executives await further instructions from U.S. authorities on enforcement and asset conditions.

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