Aug 8 (Reuters) - A U.S. federal court auctioning shares

in the parent of Venezuela-owned U.S. refiner Citgo Petroleum to

pay creditors for expropriations and debt defaults has received

a competing bid, an officer overseeing the process said in a

filing.

A $7.4 billion bid by a group led by a subsidiary of

Canadian miner Gold Reserve ( GDRZF ) was recommended last month

as winner of the bidding round, but the judge must still decide

whether to approve it, following objections by some creditors

and competitors.

Officer Robert Pincus notified the court on the "unsolicited

bid," according to a filing late on Thursday. He did not

disclose the date of submission or the bidder's name.

Gold Reserve ( GDRZF ) said on Friday in a release that in early July

the court had authorized Pincus to engage with the bidder,

identified as "Bidder B," and reactivated its access to a data

room set with key information about Citgo.

Since the unsolicited bid was received, Pincus "has

consistently engaged with Bidder B regarding its progress in

furtherance of the proposed transaction," and the bidder is now

in active discussions with parties whose consent or agreement is

required for the proposed transaction, Gold Reserve ( GDRZF ) added in the

release.

However, Pincus has not so far deemed the new bid to be a

proposal superior to the Gold Reserve ( GDRZF ) group's recommended offer,

the miner said.

(Reporting by Marianna Parragaa)