(Citgo, 17.May.2022) — Citgo Petroleum Corporation reported net income of $245mn for the first quarter 2022, compared to net income of $21mn for the fourth quarter of 2021 and a loss of $(180)mn for the first...
(Citgo, 11.May.2022) — Citgo Petroleum Corporation named Stephen McNabb the company's new Treasurer, where he will oversee liquidity management and the company's capital structure, manage financial risk and insurance, steward bank relationships and...
(Energy Analytics Institute, 12.Apr.2022) — Energy briefs including Trinidad and Tobago’s Finance Minister Colm Imbert commented 12 Apr. 2022 on Twitter about the twin-island country’s fuel subsidy; NewGold announcing plans...
(Bloomberg, 11.Apr.2022) — Citgo Petroleum Corp., the U.S. oil refiner controlled by the Venezuelan opposition, ousted chairman Luis Giusti Lugo less than a year after appointing him. Giusti, a 24-year...
(Energy Analytics Institute, 11.Apr.2022) — Energy briefs including approximately 90% of Mexican citizens voting this past weekend to back a recall election that would allow President Andrés Manuel López Obrador...
(Citgo, 31.Mar.2022) — Citgo Petroleum Corporation reported its 2021 fourth quarter and year-end financial results. For the fourth quarter of 2021, Citgo generated net income of $21mn, EBITDA (1) of $236mn and adjusted EBITDA...
(Citgo, 16.Mar.2022) — The Citgo Petroleum Corporation Board of Directors announced that Bob Kent has been appointed to the Board of Directors. "Bob Kent brings more than 40 years of refining experience...
(Energy Analytics Institute, 2.Mar.2022) — Energy briefs including Frontera spudding its first exploration well in the Espejo Block in Ecuador; Argentina's YPF holding its 4Q:21 and FY:21 webcast to discuss...
(Energy Analytics Institute, 17.Feb.2022) — Energy briefs including Atlas Renewable Energy securing financing with BNB for the construction of Lar do Sol – Casablanca II Solar Plant in Brazil; and...
(AFP, 21.Jan.2022) — The US Treasury on Thursday extended by one year a rule that shields Citgo, a US-based unit of Venezuela's state-owned oil company PDVSA, from being seized by creditors,...
(Energy Analytics Institute, 21.Jan.2022) — Energy briefs including CSI Compressco LP’s (NASDAQ: CCLP) BODs of its general partner declaring a cash distribution attributable to the 4Q:21; and PDVSA’s US refining arm...
(CNN, 26.Nov.2021) — The phone connection between a Venezuelan prison cell and Houston, Texas, crackles and fades. Jorge Toledo sounds tired. He's been held for four years, one of six...
(Citgo, 15.Nov.2021) — Citgo Petroleum Corporation reported its third quarter 2021 financial results, including a net loss of $4mn, compared to net income of $3mn for the second quarter. Marking...
(Argus, 2.Nov.2021) — Two major Venezuelan opposition parties today voted against a decree issued by US-backed shadow parliamentary leader Juan Guaidó, an unprecedented rupture that foreshadows the expiry of his constitutional...
(Reuters, 26.Oct.2021) — The former president of oil refiner Citgo, a U.S. subsidiary of Venezuelan oil company PDVSA, suffered a mild heart attack in prison in Caracas and was transferred...
(Reuters, 22.Oct.2021) — The supervisory boards of Venezuela-owned Citgo Petroleum, racing to stave off a breakup of the eighth largest U.S. oil refiner, have held talks with U.S. officials in...
(Bloomberg, 15.Sep.2021) — The U.S. will consider authorizing the sale of Citgo Petroleum Corp. shares early next year, after the mandate of the Venezuela opposition government ends, according to a...
(Energy Analytics Institute, 13.Sep.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina Lithium & Energy Corp. acquiring high quality lithium projects, Citgo Petroleum executives warning of...
(Argus, 23.Aug.2021) — US refiner Citgo has been effectively cut off from its Venezuelan state-owned parent PdV since 2019, but it is still constrained by heavy debt while multiple creditors...
(Citgo, 16.Aug.2021) — Citgo Petroleum Corporation reported its second quarter 2021 performance results, including net income of $3mn, EBITDA1 of $214mn and adjusted EBITDA2 of $208mn, marking the company's first profitable...
(Citgo, 10.Aug.2021) — Citgo Petroleum Corporation announced the appointment of Mark Holstein as the company's new General Counsel, overseeing all aspects of the company's legal strategy and material litigation, while...
(Reuters, 23.Jul.2021) — Sanctions barring U.S. imports of Venezuelan crude put refiner Citgo Petroleum Corp at a disadvantage to better-financed rivals, the board chair named by Venezuela's political opposition for...
(Reuters, 20.Jul.2021) — The United States on Tuesday extended a measure protecting Venezuelan-owned U.S. refiner Citgo Petroleum Corp PDVSAC.UL from bondholders seeking a stake in the company to collect on...
(Department of the Treasury, 20.Jul.2021) — The Office of Foreign Assets Control (OFAC) issued the following update to General License No. 5G related to PDVSA and Citgo Petroleum. Venezuela Sanctions...
(Argus, 13.Jul.2021) — Citgo, the US refining arm of Venezuelan state-owned PdV, told Argus it has no immediate plan to supply LPG to Venezuela under new US authorization for sale of the...
(Citgo, 23.Jun.2021) — The Boards of Directors of Citgo Holding, Inc. and Citgo Petroleum Corporation announced new appointments to their respective Boards of Directors. Elio José Tortolero, Samuel Wilhelm, and...
(Citgo, 1.Jun.2021) — Citgo President and Chief Executive Officer Carlos Jordá today announced Balvy Bhogal-Mitro has been named Vice President Strategic and Corporate Planning effective 1 June 2021. In her new...
(Synchrony, 24.May.2021) — Synchrony (NYSE: SYF), a premier consumer financial services company, and Citgo Petroleum Corporation, a U.S.-based refiner, transporter, and marketer of transportation fuels, lubricants, and petrochemicals, today announced...
(Citgo, 21.May.2021) — CITGO Petroleum Corporation reported its first quarter 2021 performance results, including a net loss of $180mn, an EBITDA loss of $(21)mn and Adjusted EBITDA1 of $10mn. The quarter...
(Citgo, 7.May.2021) — Despite the unprecedented challenge COVID-19 presented for refiners, CITGO Petroleum Corporation continued to make strong progress in optimizing operational performance, aggressively managing costs and building on strategic...
(Fitch Ratings, 8.Apr.2021) — Fitch Ratings affirmed the Long-Term Issuer Default Rating (IDR) of CITGO Petroleum (Opco) at 'B' and CITGO Holding (Holdco) at 'CCC+', Opco's senior secured term loans,...
(Reuters, 17.Mar.2021) — Six executives of U.S. refiner Citgo have been jailed in Caracas on graft charges since 2017, but court documents seen by Reuters show that top Venezuelan officials...
(Citgo, 25.Feb.2021) — The Simón Bolívar Foundation (Foundation), the 501(c)(3) private foundation of Citgo Petroleum Corporation, upholds high standards of corporate governance and ethics. With these standards in mind, we...
(Energy Analytics Institute, 13.Feb.2021) — China and Russia continue to push around their might in Venezuela. Thomas O’Donnell with the Hertie School of Governance & Freie Universität-Berlin weighs in briefly...
(Citgo, 12.Feb.2021) — The Citgo Petroleum Corporation Board of Directors announced today that Jose R. Pocaterra has been elected Chairman of the Board of Directors. Mr. Pocaterra brings more than...
(Energy Analytics Institute, 3.Feb.2021) — Houston-based refiner Citgo Petroleum's going-concern value is approximately $5.78 billion, according to a recent analysis by Fitch Ratings. The value is based on estimated EBITDA...
(Reuters, 18.Jan.2021) — Venezuelan authorities issued an arrest warrant for a new member of the board of directors of U.S.-based refining firm Citgo Petroleum Corp named by the opposition this...
(Argus, 14.Jan.2021) — Venezuela inched closer to losing control of its US refining subsidiary Citgo today after a federal judge began crafting a sale process for shares of its controlling...
(Citgo, 6.Jan.2021) — The Citgo Petroleum Corporation Board of Directors announced that Jose R. Pocaterra has been named to the Board of Directors, replacing Edgar Rincon who remains Citgo's Chief...
(Citgo, 29.Dec.2020) — Marking a new chapter of heightened corporate transparency, responsibility and accountability, Citgo Petroleum Corporation today released its first-ever report detailing the company's extensive environmental, social and governance...
(Energy Analytics Institute, 29.Dec.2020) — Houston-based refiner Citgo Petroleum, owned by Venezuela's state oil and gas company Petróleos de Venezuela (PDVSA), continues to benefit from US legal actions to extend...
(Reuters, 21.Dec.2020) — Citgo Petroleum Corp plans an overhaul at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery in the fourth quarter of 2021, the company said on Monday. The...
(Citgo, 18.Dec.2020) — Citgo Petroleum Corporation announced that it has entered into an agreement with Barclays as Program Administrator for a two-year $250mn accounts receivable securitization facility. The facility will...
(Citgo, 10.Dec.2020) — NGOs and other private philanthropic groups are increasingly critical in helping address the deteriorating humanitarian crisis in Venezuela, according to three diverse panels of leading experts recently...
(AP, 27.Nov.2020) — Six American oil executives held for three years in Venezuela were found guilty of corruption charges by a judge Thursday and immediately sentenced to prison, dashing hopes...
(Citgo, 13.Nov.2020) — Citgo Petroleum Corporation’s third quarter results were driven by the economic effects of the Covid-19 pandemic, which affected the refining industry as a whole, and were further...
(Citgo, 30.Oct.2020) — Given the recent accusations made by representatives of the Nicolás Maduro regime, the Simón Bolívar Foundation, the private non-profit foundation of Citgo Petroleum Corporation, categorically rejects the...
(Citgo, 29.Oct.2020) — The Board of Directors of Citgo Petroleum Corporation appointed John Zuklic as Vice President Finance and Chief Financial Officer (CFO), reporting to Citgo President and CEO Carlos...
(Reuters, 19.Oct.2020) — Bond market brokers marked up prices on some of Venezuela's battered debt more than four-fold on Monday after a U.S. judge dealt a major blow to opposition...
(Argus, 9.Sep.2020) — The chairman of the Venezuelan opposition's "ad hoc" board of national oil company PdV has joined a flight of exiled technocrats from the ranks of a struggling...
(Energy Analytics Institute, 1.Sep.2020) — More than 1,000 days have passed since Tomeu Vadell, José Luis Zambrano, Alirio Zambrano, Jorge Toledo, Gustavo Cardenas and José Pereira — known as the...
(Energy Analytics Institute, 28.Aug.2020) — Houston-based refiner Citgo Petroleum released initial details regarding its Lake Charles Refinery and the impact on its operations after the passing of Hurricane Laura. __________...
(Citgo, 17.Aug.2020) — Citgo Petroleum Corporation reported a net loss of $5 million for the second quarter of 2020, which includes the benefit from the reversal of a previously recorded...
(Reuters, 6.Aug.2020) — U.S. prosecutors charged a former Citgo Petroleum manager with accepting $2.5 million as part of a scheme to bribe officials with the U.S. refiner and its Venezuelan...
(Citgo, 22.Jul.2020) — PDV Holding, Inc., the indirect sole stockholder of Citgo Petroleum Corporation, issued its first-ever annual report detailing financial and operational performance in calendar year 2019. Report highlights...
(Citgo, 17.Jul.2020) — The Board of Directors of CITGO Petroleum Corporation has appointed Edgar Rincon as Chief Operating Officer (COO) and Executive Vice President, reporting to CITGO President and CEO...
(Citgo, 15.Jul.2020) — Citgo Petroleum Corporation Board of Directors announced today that Pablo Pérez Barreiro, Marcelo Laprea-Bigott and Carlos Jordá have been named to the Board of Directors. "Pablo Pérez...
(Reuters, 1.Jul.2020) — Venezuela's opposition-held National Assembly on Tuesday named three new members to an ad hoc board of directors for state Petroleos de Venezuela (PDVSA), which controls some of...
(Argus, 19.Jun.2020) — Another senior Venezuelan opposition figure has resigned following the government's leak of a strategy to favor ConocoPhillips in an escalating battle for Venezuelan state-owned PdV's US refining...
(Argus, 19.Jun.2020) — Another senior Venezuelan opposition figure has resigned following the government's leak of a strategy to favor ConocoPhillips in an escalating battle for Venezuelan state-owned PdV's US refining...
(Citgo, 12.Jun.2020) — Citgo Petroleum Corporation reported its first quarter 2020 performance results, including a net loss of $159 million and an adjusted EBITDA1 of $38 million excluding the effect...
(Citgo, 2.Jun.2020) — Citgo Petroleum Corporation has commenced a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, of $750 million aggregate principal amount of...
(Argus, 28.May.2020) — Luis Pacheco is chairman of a parallel board trying to exert control over the future of Venezuela's state-owned PdV. Appointed by the National Assembly led by opposition...
(Argus, 21.May.2020) — Two members of the parallel board of Venezuela's national oil company PdV have resigned, a development that exposes brewing frustration in the exiled technical ranks of US-backed...
(PDV Holding, 1.May.2020) — PDV Holding, Inc., and the Government of Aruba/Refineria di Aruba (RDA) today executed an amicable termination agreement in relation to the contract for the San Nicolás...
(Citgo, 26.Mar.2020) — The Simón Bolívar Foundation Inc. (SBF), the non-profit, private foundation of Citgo Petroleum Corporation, is launching a special round of its small grants program to help alleviate...
(Energy Analytics Institute, Piero Stewart, 19.Mar.2020) — The US calls for humanitarian release of wrongfully detained Americans in Venezuela. https://twitter.com/statedeptspox/status/1240619170338922502 © Energy Analytics Institute (EAI). All Rights Reserved. ***
(Reuters, 19.Feb.2020) — Venezuelan President Nicolas Maduro said on Wednesday he would create a presidential commission to restructure the country's beleaguered oil industry, which will be led by Vice President...
(AP, 19.Feb.2020) — Family members of six American oil executives jailed in Venezuela are accusing Nicolas Maduro’s government of “forced disappearance” after the men were inexplicably missing for the scheduled...
(Citgo, 11.Feb.2020) — Citgo Petroleum Corporation announced the appointment of Jack Lynch as the company’s new Chief Compliance & Ethics Officer. Lynch will continue to serve as the Vice President...
(Citgo, 24.Jan.2020) — The Simón Bolívar Foundation Inc. (SBF), a non-profit, private foundation of CITGO Petroleum Corporation, awarded seven grants totaling $100,000 to nonprofits that expand access to medicine, health...
(Citgo, 6.Dec.2019) — Citgo Petroleum Corporation reported strong financial and operational performance as the Board of Directors reviewed with the Shareholder the company’s performance during the first nine months of...
(El Nuevo Herald, Nora Gámez Torres, 27.Nov.2019) — Embattled leader Nicolás Maduro sent about $900 million in oil to Cuba this year despite the humanitarian crisis in Venezuela, a U.S....
(Reuters, 26.Nov.2019) — U.S. oil company ConocoPhillips on Tuesday filed a motion in a Delaware court seeking to seize shares in the parent of U.S. refiner Citgo Petroleum to collect...
(Argus, Elliott Blackburn, 21.Nov.2019) — Federal appeals court judges have denied Venezuela's request to rehear a July decision upholding the pursuit of the country's US refining subsidiary Citgo to satisfy...
![US Extends Citgo Protection [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/06/1200x627-ofac-lifts-sanctions-on-defense-minister-akar-as-us-turkey-tensions-ease-1581442611039-768x401.jpg)
![Citgo Reports FY:20 Results [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/04/ER4uwmfWkAcY0D8-source-citgo-768x512.jpg)
![Citgo Releases First-Ever ESG Report [PDF DOWNLOAD]](https://energy-analytics-institute.org/wp-content/uploads/2020/12/qtq80-NEPfid-768x512.jpeg)
