Valued at around $13 billion, CITGO is Venezuela’s most prized foreign asset. Judge Leonard P. Stark approved Friday a US $8 billion bid from Amber Energy following a four-day hearing that marked one of the final stages in the forced sale of Venezuela’s most important foreign asset. The binding agreement will set the sale terms and outline the transfer of shares. In July, Pincus backed a $7.4 billion offer from Dalinar Energy Corporation, a subsidiary of Canadian miner Gold Reserve, itself a creditor in the CITGO proceedings. Valued at around $13 billion, CITGO owns refineries in Illinois, Louisiana and Texas with a combined processing capacity of 769,000 barrels per day (bpd).