MONTERREY, MEXICO (By editors with Energy Analytics Institute, 26.Apr.2026, Words: 242) — The following briefs are compiled from varied media outlets across the Latin America and Caribbean (LAC) region and beyond and span company details on Noble Corporation, Citgo Petroleum and Amber Energy, among others. Energy Analytics Institute (EAI) has not […]
Tag: Citgo
Delcy eyes recovery of assets, resources frozen abroad, downplays PDVSA privatization
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 9.Apr.2026, Words: 182) — Venezuela will create a commission, including representatives from the state and private sector, to evaluate national assets. The commission will oversee evaluation of “the strategic or non-strategic nature of state assets,” Venezuela’s interim president Delcy RodrĂguez announced from […]
Valero positioned to capitalize on improved access to Venezuelan market, according to EDA
BATON ROUGE, LOUISIANA (By Pietro D. Pitts, Energy Analytics Institute, 27.Feb.2026, Words: 443) — Valero Energy is positioning to capitalize on improved access to the Venezuelan market as sanctions imposed on US president Donald Trump ease and trade flows reopen. Valero has engaged with 3 authorized sellers of Venezuelan crude oil […]
Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019
NEW YORK, NEW YORK (By Reuters: Nicole Jao, Arathy Somasekhar and Georgina McCartney, 26.Feb.2026, Words: 311) — Saudi Aramco’s US trading division bought a cargo of Venezuelan Boscan crude for March delivery, its first purchase of the heavy crude suited for asphalt making, sources familiar with the deal said on Thursday. The […]
US aggression against Venezuela finally revealed, says Delcy RodrĂguezÂ
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 10.Dec.2025, Words: 450) — The government of Venezuela “strongly denounces and repudiates what constitutes a blatant theft and an act of international piracy, publicly announced by the president of the United States, who confessed to the attack on an oil tanker in […]
Venezuela’s Delcy RodrĂguez denounces US’ “vulgar and barbaric plunder” of Citgo
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 2.Dec.2025, Words: 393) — Venezuela’s government classified the sale of Citgo Petroleum as a “multifaceted fraudulent aggression.” Venezuela’s vice president Delcy RodrĂguez said the Caribbean country firmly rejected the recent decision of a US court that allows for what she called the […]
Amber Energy approved as acquirer of Citgo Petroleum by US District Court
HOUSTON, TEXAS (By Amber Energy, 25.Nov.2025, Words: 370) — Amber Energy Inc. has been approved as the acquirer of PDV Holding, Inc. (PDVH), the parent of Citgo Petroleum Corporation, through a sale of shares, by Judge Leonard P. Stark of the US District Court for the District of Delaware. Amber Energy […]
Citgo Petroleum reports 3Q:25 results
HOUSTON, TEXAS (By Citgo, 13.Nov.2025, Words: 662) — Citgo Petroleum Corporation reported its 2025 third quarter financial and operational results. Improved refining margins and reliable operations led to third quarter net income of $167mn, EBITDA of $363mn and Adjusted EBITDA of $370mn, compared to net income of $100mn, EBITDA of […]
Gold Reserves files disqualification motions related to Citgo Petroleum sale
PEMBROKE, BERMUDA (By Gold Reserve, 10.Oct.2025, Words: 345) — Gold Reserve Ltd., pursuant to the schedule set by the US District Court for the District of Delaware, filed a motion to disqualify the 2 professional advisors to the special master – the law firm of Weil, Gotshal & Manges LLP […]
Gold Reserve updates US judge Stark’s decision regarding Citgo divestment process
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 18.Sep.2025, Words: 173) — US District Court for the District of Delaware judge Leonard Stark issued a decision denying Gold Reserve Ltd.’s motion to strike the special master’s notice of superior proposal and granting the special master’s request to terminate Gold […]
Judge declares Venezuelan bonds valid, creditors press for Citgo auction resolution
NEW YORK, NEW YORK / HOUSTON, TEXAS (By Luc Cohen and Marianna Parraga, Reuters, 18.Sep.2025) — A U.S. judge upheld the validity of Venezuelan state oil company PDVSA‘s 2020 bonds on Thursday, prompting a judge in another court to move towards the completion of an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum. […]
Gold Reserve moves to have rival Elliott bid for Citgo parent disqualified, filing says
HOUSTON, TEXAS (By Marianna Parraga, Reuters, 27.Aug.2025, Words: 115) — Gold Reserve on Wednesday filed a motion to disqualify a rival bid from an affiliate of hedge fund Elliott Investment Management that a Delaware court this month selected as frontrunner in an auction for Citgo Petroleum‘s parent, a court document said. […]
Citgo Petroleum reports 2Q:25 EBITDA of $325mn
HOUSTON, TEXAS (By Citgo, 14.Aug.2025, Words: 604) — Citgo Petroleum Corporation reported reliable operations in a more supportive market environment led to second quarter of 2025 net income of $100mn, EBITDA of $325mn and adjusted EBITDA of $346mn, compared to a net loss of $(82)mn and EBITDA and adjusted EBITDA of $88mn for the first quarter of 2025. […]
Citgo Corpus Christi refinery hosts “worst case drill exercise”
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 28.Jul.2025, Words: 267) — Citgo Petroleum Corpus Christi refinery (CCR) recently hosted the company’s annual “worst case drill” exercise, welcoming dozens of participants from local, state and federal partner agencies. This event is conducted to test the refinery’s readiness to execute a […]
Gold Reserve reveals $7.382bn Citgo bid recommendation [pdf downloads]
HOUSTON, TEXAS (By Isaac Silvestre, Energy Analytics Institute, 3.Jul.2025, Words: 500) — Gold Reserve Ltd. revealed its US acquisition subsidiary, Dalinar Energy Corporation, is the final recommended bidder for acquisition of shares of PDV Holding, Inc., the indirect parent company of Citgo Petroleum Corp. Citgo owns 3 strategically located, deep […]
Vitol group submits bid above $10bn for Citgo, sources say
HOUSTON, TEXAS (By Marianna Parraga, Reuters, 2.Jul.2025, Words: 559) — A group led by commodities trading house Vitol submitted a bid exceeding $10 billion for the parent of Venezuela-owned U.S. refiner Citgo Petroleum during the final hours of a U.S. court-organized auction, two sources with knowledge of the offer told Reuters on […]
Black Lion submits $8bn cash bid for Citgo’s parent
HOUSTON, TEXAS (By Marianna Parraga, Reuters, 25.Jun.2025, Words: 530) — Black Lion Citgo Group, a consortium led by private equity firm Black Lion Capital Advisors, submitted an $8 billion all-cash bid for the parent of Venezuela-owned U.S. refiner Citgo Petroleum as part of a court-organized auction of shares, the company said in a […]
Q&A: Is Venezuela about to lose Citgo, its most prized foreign asset?
HOUSTON, TEXAS (By Marianna Parraga, Reuters, 16.Jun.2025, Words: 685) — A U.S. court-organized auction of shares in the parent company of Venezuela-owned Citgo Petroleum has entered its final stages, with bidders submitting improved offers for the U.S. refiner and creditors hoping to recover a portion of the proceeds. The auction […]
Delcy RodrĂguez says measures against PDVSA have generated $232bn in losses
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 18.May.2025, Words: 183) — Venezuela’s executive vice president and hydrocarbon minister Delcy RodrĂguez said unilateral coercive measures (MCU by its Spanish acronym) against state-owned PetrĂłleos de Venezuela, S.A. (PDVSA) have led to accumulated losses of $232bn between 2017-2025. RELATED: PDVSA ad Hoc administrative board […]
Citgo Petroleum reports weak refining margins in the 1Q:25
HOUSTON, TEXAS (By Ofelia Paredes, Energy Analytics Institute, 8.May.2025, Words: 635) — Houston-based Citgo Petroleum Corporation — which owns and operates 3 large-scale, highly complex petroleum refineries with a total rated crude oil refining capacity of 807,000 barrels per day (b/d) and located in Lake Charles, La., Corpus Christi, Texas, and Lemont, Ill. — […]
Explainer: New Creditors’ Battle Emerges in Citgo Auction Reboot
HOUSTON, TEXAS (Reuters, 27.Mar.2025) — A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex […]
LatAmNRG heard: service costs in Argentina, Trump eyes Citgo protection, Rubio to Jamaica
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 21.Mar.2025, Words: 372) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 21 Mar. 2025 including coverage from CERAWeek by S&P Global as well as other updates on YPF, SLB, Halliburton and Citgo Petroleum, among […]
Citgo reports total 4Q:24 throughput of 887,000 b/d at its 3 refineries
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 6.Mar.2025, Words: 639) — Houston-based Citgo Petroleum Corporation — which owns and operates 3 large-scale, highly complex petroleum refineries with a total rated crude oil refining capacity of 807,000 barrels per day (b/d), located in Lake Charles, La., Corpus Christi, Texas and […]
Citgo Launches Brand Licensing Program as Part of Fuels Business
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 18.Feb.2025) — The Citgo brand is extending to 5 new geographic markets with the launch of a brand licensing program for qualified marketers and retailers. The launch will initially target Arizona, Colorado, New Mexico, Nevada and Utah, Citgo said 18 Feb. 2025 in […]
Citgo Bidding Opened to Others to Try to Top Elliott Firm
(Jef Feeley, Nicolle Yapur and Andreina Itriago Acosta, Bloomberg, 31.Dec.2024) — A US judge reset the bidding process for the parent company of Citgo Petroleum Corp. late Tuesday, a move that is poised to create competition for Elliott Investment Management’s pursuit of the oil refiner. Judge Leonard Stark ordered the […]
PDVSA ad Hoc administrative board reaffirms commitment to safeguard Citgo
(Piero Stewart, Energy Analytics Institute, 30.Dec.2024, Words: 514) — The Ad Hoc Administrative Board of PDVSA reiterated its commitment to the defense of Venezuela’s assets abroad, especially PDVSA’s 807,000 barrel per day (b/d) US refining affiliate Citgo Petroleum Corporation. Horario Medina, the president of Ad Hoc Administrative Board of PDVSA, […]
Citgo Petroleum Reports 3Q:24 Results
(Citgo, 14.Nov.2024) — Citgo Petroleum Corporation reported its 2024 third quarter financial and operational results. High throughput volume contributed to a third quarter net income of $66mn, EBITDA (1) of $281mn, and Adjusted EBITDA of $290mn compared with a net loss of $25mn, EBITDA of $162mn and Adjusted EBITDA of […]
Fact sheet: Citgo Petroleum’s US refineries, terminals, and pipelines
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 18.Oct.2024, Words: 185) — Citgo Petroleum Corp. has 3 strategically located, deep conversion refineries in Texas, Louisiana and Illinois. Combined, these 3 refineries have a combined total refining capacity of approximately 807,000 b/d. Each refinery has the capability to process large volumes […]
EAI brief: Amber Energy CEO resigns from Exxon’s BODs
HOUSTON, TEXAS (By editors with Energy Analytics Institute, 17.Oct.2024, Words: 65) — Amber Energy CEO Gregory J. Goff resigned as a member of the board of directors of Exxon Mobil Corporation to pursue other business opportunities. Exxon revealed the details in an 17 Oct. 2024 Form 8-K filing with the […]
Citgo Auction in Jeopardy as Bondholders Pursue Claims
(Reuters, 9.Oct.2024) — Holders of billions of dollars in Venezuelan bonds and notes have emerged as last-minute protagonists in a U.S. court case set to decide the ownership of oil refiner Citgo Petroleum, threatening to derail an auction to compensate more than a dozen companies for unpaid debts and expropriations […]
LatAmNRG matters, highlights, heard: Argentina LNG, $7.3bn Amber-Citgo deal
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]
Citgo Share Auction Creditors Oppose Terms of Amber Energy Bid
(Reuters, 1.Oct.2024) — Creditors seeking proceeds from an auction of shares in a parent of Citgo Petroleum to repay them for Venezuela’s expropriations and debt defaults on Tuesday widely criticized terms of a conditional offer selected in the U.S. court’s second bidding round. An Elliott Investment Management affiliate on Friday was named […]
Exxon Director Joins Elliott Seeking to Acquire Citgo Petroleum
(Reuters, 28.Sep.2024) — Exxon Mobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum. Citgo and Exxon are rivals in the motor fuels and lubrications business. Exxon is the third-largest U.S. oil refiner by capacity and […]
Amber Energy Selected to Acquire Citgo
(Amber Energy, 27.Sep.2024) — Amber Energy Inc. has been selected as the acquirer of PDV Holding, Inc., the parent of Citgo Petroleum Corporation, by Robert Pincus, the Special Master appointed by the U.S. District Court for the District of Delaware to oversee the sale of PDV Holding, Inc. Amber Energy is […]
Citgo Awards $1mn to Caring For Our Coast Nonprofits
(Citgo, 18.Sep.2024) — Celebrating a decade of environmental protection, conservation and restoration, the Citgo Caring For Our Coast initiative is amplifying its impact with an additional $1mn in grants awarded to 17 environmental organizations located around the Gulf Coast region and in Lemont, Illinois, where Citgo has operations. The recipient organizations support a wide range […]
US Court Officer Moves to Block Creditors from Derailing Citgo Auction
(Reuters, 9.Sep.2024) — U.S. federal court officer overseeing an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum on Monday asked the judge in the case to prevent creditors from pursuing additional lawsuits that could derail the sales process. Three creditors that had registered claims with the court but are unlikely to […]
US Court Accepts $20.8bn in Claims Against Venezuela in Citgo Auction
(Reuters, 19.Jan.2024) — A U.S. court on Friday approved claims by 17 Venezuela-linked creditors, including ConocoPhillips, Rusoro Mining and Koch Industries, to get proceeds from a coming auction of shares in the parent of Venezuela-owned oil refiner Citgo Petroleum to satisfy claims for expropriations and debt defaults. The list, which […]
Citgo Concludes 2023 Marketer Roundtables
(Citgo, 9.Nov.2023) — Citgo Petroleum concluded its highly successful Marketer Roundtable Meetings for 2023, bringing together marketers from across the country to discuss key industry trends, brand programs, and commercial strategies. The roundtables, held in late September through early November, provided a valuable forum for collaboration and knowledge sharing. The […]
Venezuela’s Opposition Proposes Using Exports Proceeds to Pay Creditors
(Reuters, 7.Jul.2023) — Venezuela’s opposition is crafting a proposal for the country to redirect about 200,000 barrels per day of its oil exports to a trustee to pay creditors with claims on the nation’s foreign assets. Venezuela is battling in U.S. court against bondholders and creditors claiming more than $20 billion from […]
Diesel Prices in 2023? Don’t Expect Much Relief
(Investor’s Business Day, 29.Dec.2022) — U.S. diesel prices hit all time highs in 2022 as demand surged and supplies of the critical heating and transportation fuel tightened. However, analysts expect diesel prices to come down in 2023, even as supplies will remain tight. So Ed, why don’t we start with […]
Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?
(Forbes, 2.Dec.2022) — A video that state-owned oil giant PetrĂłleos de Venezuela posted to its Twitter feed this week shows a jovial meeting between Oil Minister Tarek El Aissami and Javier La Rosa, Chevron’s CVX country head. The clip shows La Rosa arriving at what looks to be Aissami’s offices, the two laughing, […]
Ecopetrol and Citgo Transaction to Offset Carbon
(Citgo, 10.Oct.2022) — A carbon compensated crude oil cargo sold by Ecopetrol and purchased by Citgo Petroleum Corporation is currently making its way to the Citgo Corpus Christi refinery for processing. The recent transaction supports Ecopetrol’s objectives on energy transition and decarbonization. The 500,000 barrel cargo of Ecopetrol Castilla Blend® […]
Are Talks Over Detained Americans Slowing the Fight for Democracy in Venezuela?
(CNN, 16.Aug.2022) — A growing number of US citizens are being detained in Venezuela — and though exactly how many is unknown, the detentions could give authoritarian leader Nicolas Maduro leverage in frosty relations with Washington. Since 2019, the US and dozens of other countries around the world have said they do […]
Citgo Reveals Offer to Acquire up to $286mn of its 2024 Notes
(Citgo, 11.Aug.2022) — Citgo Holding, Inc., a Delaware corporation, today announced its offer to purchase for cash an aggregate principal amount of up to $286.231mn (the “Excess Cash Flow Offer Amount”) of its 9.25% Senior Secured Notes due 2024 at a purchase price equal to 100% of the principal amount of the Notes to […]
Citgo Proposes Senior Secured Notes Offering
(Citgo, 3.Feb.2021) — Citgo Petroleum Corporation has commenced a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, $650mn aggregate principal amount of senior secured notes due 2026. The notes offering is subject to market and other conditions, and there is no assurance that […]
Fitch Rates Citgo’s Secured 2026 Notes ‘BB’/’RR1’
(Fitch, 3.Feb.2021) — Fitch Ratings has assigned a ‘BB’/’RR1’ to CITGO Petroleum Corporation’s (Opco) $650mn senior secured 2026 notes. Proceeds from the notes, along with cash on hand, will be used to repay CITGO Petroleum’s 6.25% secured notes due August 2022 and associated fees. The new notes will rank pari […]
Venezuelan Opposition Fills PdV Chair On Election Eve
(Argus, 7.Dec.2020) — Venezuela’s opposition-controlled National Assembly named another oil industry veteran to chair a shadow board of Venezuela’s national oil company PdV. The key appointment comes on the eve of tomorrow’s disputed National Assembly elections that are widely expected to cement the power of President Nicolas Maduro. The US-backed […]
Two US Execs Go From Prison To House Arrest
(CNN, 31.Jul.2020) — Two American oil executives held in an overcrowded Venezuelan prison for almost three years have been placed in house arrest, a sign that the embattled government of Nicolas Maduro may be easing its stance toward the detainees. Gustavo Cárdenas and Jorge Toledo were released to house arrest […]
Politics Entangling Exile PdV Board
(Argus, 1.Jul.2020) — An “ad hoc” board of state-owned PdV that is a key part of US-backed opposition leader Juan Guaido’s parallel administration is running into political resistance in the run-up to National Assembly elections in early December. Ten deputies in the opposition-controlled assembly withheld support for three board appointments […]
Venezuela Wooed Texan Lawmaker To Ease Sanctions
(AP, 22.Jun.2020) — Venezuela’s socialist government tried to recruit then-Congressman Pete Sessions to broker a meeting with the CEO of Exxon Mobil at the same time it was secretly paying a close former House colleague $50 million to keep U.S. sanctions at bay, The Associated Press has learned. An official […]