Citgo Petroleum Corp.
About
Citgo Petroleum Corp., an extension of state-owned Petroleos de Venezuela (PDVSA), is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other petroleum-based industrial products.
Citgo owns and operates three highly sophisticated crude refineries located in Lake Charles, Louisiana (463,000 bbl/d), Lemont, Illinois, (177,000 bbl/d) and Corpus Christi, Texas (167,000 bbl/d). Citgo wholly and/or jointly owns 38 active terminals--one of the largest networks in the country--six pipelines and three lubricant blending and packaging plants.
Headquarters Address
Houston, TX
United States
Website
www.citgo.comNews
Pitts: How Venezuelan Elections Impact Texas and Louisiana
The ramifications of another questionable election in Venezuela comes as Chevron’s quest to recoup debts continues. And Washington’s likely next steps will include more of the same: sanctions.
Amber CEO Goff Resigns from Exxon Mobil Board
The CEO of Amber Energy Inc., the winning bidder of Citgo Petroleum for an auction price of $7.3 billion, resigned from Exxon Mobil Corp.’s board of directors last week.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
Elliott-backed Amber Energy Picked to Buy Citgo Petroleum for $7.3B
Amber Energy, led by industry veterans Gregory Goff and Jeff Stevens, was selected by a court-appointed special master to buy Citgo Petroleum, which is held by a Venezuelan company, for $7.286 billion.
Fitch Warns of Citgo Credit Risks but Affirms Stable Outlook
Rating agency Fitch affirmed the default rating of U.S. refiner Citgo Petroleum Corp. at 'B' with a stable outlook, while highlighting operational risks and contagion effects from U.S. sanctions on Citgo's Caracas-based parent PDVSA.
Oil Companies in Texas Restoring Operations Following Hurricane Beryl
Beryl's impact on oil and gas production is expected to be minor.
Oil, Gas Industry Braces for Storm After Beryl Shifts Toward Houston
Chevron and Shell have evacuated offshore platforms as Tropical Storm Beryl could grow into a Category 2 hurricane when it makes landfall in the Houston area on July 8.
Court Weighs Postponing Citgo Auction Bid Hearing to September
A U.S. court has been asked to postpone a hearing to present the high bid in an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum.
ConocoPhillips Looks to Scale Portfolio, But Citgo Auction Not a Factor
ConocoPhillips has a long-term ambition to boost its LNG offtake capacity to between 10 mtpa to 15 mtpa as it keeps a short-term eye on the auction of Citgo Petroleum.
US Says it Will Not Renew Easing of Venezuela Oil Sanctions Unless Progress Made on Elections
The Biden administration holds out little hope that Maduro will make enough concessions before the April 18 deadline to satisfy U.S. demands.