Citgo Petroleum Corp, the eighth-largest U.S. oil refiner, reported on Monday its seventh quarterly loss in the last two years and reshuffled its board of directors, naming three new members. Earnings at the U.S. arm of Venezuela’s state oil company, Petroleos de Venezuela (PDVSA), have been under pressure from the COVID-19 fallout and higher costs since U.S. sanctions cut its access to Venezuelan oil. The refiner is battling possible seizure by creditors seeking to collect on unpaid debts incurred by PDVSA and Venezuela. Citgo reported a third-quarter loss of $4 million on weaker marketing margins and outages, which reduced its crude throughput to 85% from 87% in the second quarter. The company suffered a loss of $248 million in the year-ago period due to slack demand […]