A conditional offer for shares in Citgo Petroleum's parent by financial firm Elliott Investment Management was accepted by a U.S. court officer overseeing an auction that could decide the future control of the Venezuela-owned oil refiner,

An Elliott Investment Management affiliate won an auction for Citgo Petroleum Corp.’s parent company with a bid for $7.3 billion, clearing a key hurdle in the fund’s push to acquire an oil refiner that was once Venezuela’s largest foreign asset.

Elliott and other U.S. investors have agreed to pay nearly $7.3 billion to acquire Citgo’s parent company, with proceeds set to help compensate creditors of the bankrupt Venezuelan government.

Chase Elliott will start at the rear of the field in Sunday’s NASCAR Cup Series Playoff race at Kansas Speedway after an engine issue cropped up in Saturday’s practice session. Elliott managed the 15th-fastest lap in practice for Sunday’s Hollywood Casino 400 (3 p.

Chase Elliott will start at the rear of the field Sunday at Kansas Speedway because of an engine issue with his No. 9 Hendrick Motorsports Chevrolet. Elliott felt he was potentially down a