HOUSTON, April 16 (Reuters) - A U.S. federal court on Tuesday set June 11 as the deadline to accept binding bids for shares in a parent of oil refiner Citgo Petroleum, a process organized to pay creditors for past expropriations and debt defaults in Venezuela.

A hearing to choose the highest bidder could be held as soon as July 15, according to an auction schedule released by U.S. District Court in Delaware. (Reporting by Gary McWilliams)