The U.S. has extended protection for Citgo Petroleum from creditors until March 20. The Houston-based refiner is expected to be acquired by an affiliate of Elliott Investment Management following a court-ordered auction to settle Venezuela’s outstanding debts.
In a statement sent to Rigzone recently, the Texas Oil & Gas Association (TXOGA) said Texas upstream oil and gas employment was “steady in 2025, despite market headwinds”.
Curious Minds Corner
Can oil be heavier than water?
Yes — some heavy crude oils and bitumen are denser than water and can sink instead of float.