Vitol group submits bid surpassing $10 bln for Citgo's parent, sources say

A bid exceeding $10 billion has been submitted by a group led by commodities house Vitol in a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, two sources with knowledge of the offer told Reuters on Wednesday.

A court officer overseeing the auction is expected to recommend a winner on Wednesday unless he requests more time to evaluate bids submitted in the last minute.

Vitol did not immediately reply to a request for comment.