HOUSTON, TEXAS (Editors at Energy Analytics Institute, 21.Mar.2025) — LatAm and other NRG highlights, headlines and “heard on the street,” for the week ended 21 […]
Tag: Citgo
Citgo Reports Total 4Q:24 Throughput of 887,000 b/d at its 3 Refineries
ATLANTA, GEORGIA (Chad Archey, Energy Analytics Institute, 6.Mar2025) — Houston-based Citgo Petroleum Corporation — which owns and operates 3 large-scale, highly complex petroleum refineries with […]
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 […]
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 […]
Ad Hoc Administrative Board of PDVSA Reaffirms Commitment to Safeguard Citgo
(Piero Stewart, Energy Analytics Institute, 30.Dec.2024) — The Ad Hoc Administrative Board of PDVSA reiterated its commitment to the defense of Venezuela’s assets abroad, especially […]
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 […]
FACT SHEET: Citgo’s US Refineries, Terminals, Pipelines
(Energy Analytics Institute, 18.Oct.2024) — Citgo Petroleum Corp. has 3 strategically located, deep conversion refineries in Texas, Louisiana and Illinois. Combined, these 3 refineries have […]
Amber Energy CEO Resigns from Exxon’s BODs
(Energy Analytics Institute, 17.Oct.2024) — Amber Energy CEO Gregory J. Goff resigned as a member of the board of directors of Exxon Mobil Corporation to […]
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 […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 4.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?
(Forbes, 2.Dec.2022) — A video that state-owned oil giant Petróleos de Venezuela posted to its Twitter feed this week shows a jovial meeting between Oil […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Venezuela Wooed Texas Lawmaker To Ease Sanctions
(AP, 20.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 […]
Opposition Asks Court To Recognize Citgo Changes
(Argus, 18.Jun.2020) — Venezuelan ownership of the country’s most valuable overseas asset may rest on opposition leadership convincing a US court that it restored refiner […]
Venezuela Spurned By US Court In Citgo Clash
(Bloomberg, 18.May.2020) — The U.S. Supreme Court rejected an appeal by Venezuela in its fight to retain control of oil refiner Citgo Holding Inc., putting […]
Angel Olmeta To Retire From Citgo Petroleum BODs
(Citgo, 2.Apr.2020) — The Citgo Petroleum Corporation Board of Directors and the Citgo President and Chief Executive Officer Carlos Jordá, announced today that Angel Olmeta […]
Mariela Poleo To Head Simón Bolívar Foundation
(Citgo, 8.Mar.2020) — Citgo Petroleum Corporation announced the appointment of Mariela Poleo as President of the Simón Bolívar Foundation (SBF), the company’s non-profit, private foundation […]
Citgo Says Gerd Knutsen Released From Seizure
(Citgo, 28.Feb.2020) — Citgo Petroleum Corporation confirms that the Gerd Knutsen and its crew have safely reached international waters, and that the Company intends to […]
Latest Rosneft Sanctions Raise Risks For Others
(Reuters, 19.Feb.2020) — Washington’s move this week to sanction a trading unit of Russian oil giant Rosneft for its ties with Venezuela’s state-run PDVSA escalated […]
Citgo Drops Aruba Refinery Project, Island Balks
(Argus, 13.Jan.2020 — Citgo, the US refiner that Venezuela’s political opposition nominally wrested from the Opec country’s national oil company PdV in 2019, is abandoning […]
Venezuela Releases ‘Citgo 6’
(Chron.com, Sergio Chapa, 9.Dec.2019) — Six executives of Houston refiner Citgo are out of a Venezuelan prison, according to a late Monday report by Reuters. […]
Nynas Suspends Imports Of Venezuelan Oil
(Reuters, Marianna Parraga, 21.Oct.2019) — European refiner Nynas AB will suspend imports of Venezuelan crude following changes to a license allowing it to operate under […]
OFAC Gives Nynas AB Time
(Sputnik, 18.Oct.2019) — The United States has extended a license that allows certain transactions with PDVSA’s joint venture Nynas AB despite US sanctions on the […]
Maduro Rivals Seek Break With Citgo
(Argus, 17.Oct.2019) — Venezuela’s main political opposition is pressing for a deal with foreign bondholders to suspend a looming $914mn obligation that is tethered to […]
Venezuela Readies Handover Of PDVSA To Rosneft
(Tass, 16.Oct.2019) — The government of Venezuela is ready to hand over full control over its state-run oil company PDVSA (Petroleos de Venezuela) to Russia’s […]
Venezuela’s Opposition Snubs PDVSA Bondholders
(Argus, 15.Oct.2019) — Venezuela’s opposition-controlled National Assembly signaled to bondholders today that it will not honor a $914mn principal and interest obligation because it says […]
CITGO Key To Trump’s Venezuela Strategy
(Forbes, Ariel Cohen, 8.Oct.2019) — At last month’s United Nations General Assembly, the Lima Group, the U.S.-led coalition of 14 countries in the Americas seeking […]
Citgo Bolsters Legal Defenses With Former BP Lawyer
(Reuters, 8.Oct.2019) — Citgo Petroleum Corp this week named a former BP lawyer to take on the company’s top legal job as it faces creditors […]
Guaido Govt Authorized To Pick Citgo BODs, Court Says
(Energy Analytics Institute, Piero Stewart, 5.Aug.2019) — Court says National Assembly leader Juan Guaido authorized to appoint the directors of Houston-based refiner Citgo Petroleum, company […]
Citgo Petroleum Hails Legal Victory
(Citgo, 2.Aug.2019) — A Delaware court affirmed the authority of the Guaido Government to make appointments to the Citgo Petroleum Corporation Board of Directors (in Jiménez […]
CITGO Foundation Holds Symposium On Venezuelan Health Crisis
(Citgo, 25.Jul.2019) — The Simón Bolívar Foundation, the 501(c)(3) non-profit, private foundation of CITGO Petroleum Corporation, held an educational and networking event last night for […]
PDVSA to Restart CRP Refining by 10 Jul. 2019
(Argus, 8.Jul.2019) — Venezuela´s state-owned PdV plans to restart crude processing at the 940,000 b/d CRP refining complex by 10 July after electricity supply was […]
Citgo Reports Higher Exports, Crude Throughputs
(Argus, 1.Apr.2019) — Citgo increased fuel exports and domestic crude processing last year, the company said in rare public guidance on the Venezuelan-controlled independent refiner’s […]
PDVSA Preparing $950mn Payment On 2020 Bond
(Reuters, 15.Oct.2018) — Venezuela’s state-owned oil company PDVSA is preparing to pay holders of its 2020 bond some $950 million this month, after failing to […]
U.S. Company Manager Pleads Guilty in PDVSA Bribery Scheme
(Reuters, 13.Sep.2018) — A former manager of a U.S.-based logistics company pleaded guilty on Thursday to paying bribes to secure contracts from Venezuela’s state oil […]
Venezuelan Oil Assets to be Seized by Creditors
(Express, Simon Osborne, 16.Aug.2018) – Venezuela’s oil assets are being targeted by angry creditors after a US court granted a Canadian mining company permission to […]
Venezuela’s Citgo Refineries At Risk Of Seizure
(Forbes, Robert Rapie, 12.Aug.2018) – In 2007, following Venezuela’s expropriation of billions of dollars of assets from U.S. companies like ExxonMobil and ConocoPhillips, I suggested […]
U.S. Judge Authorizes Seizure of Venezuela’s Citgo
(The Wall Street Journal, Andrew Scurria and Julie Wernau, 9.Aug.2018) – A U.S. federal judge authorized the seizure of Citgo Petroleum Corp. to satisfy a […]
Unsealing Crystallex/PDVSA Documents
(Energy Analytics Institute, Ian Silverman, 8.Aug.2018) – Chief Judge Stark of the US Federal District Court in Delaware immediately agreed with our arguments calling out […]
U.S. Revokes Visa of Citgo CEO
(Bloomberg, Lucia Kassai and Fabiola Zerpa, 18.Jul.2018) – Being a blood relative of Hugo Chavez used to open doors. Now Asdrubal Chavez, cousin of the […]
Citgo Appoints Aruba Refinery Executives
(Reuters, 28.Jun.2018) – Citgo Petroleum, the U.S. refining arm of Venezuela’s state-run oil company PDVSA, said it appointed two senior executives to new positions as […]
Venezuela Upgraders Halting Ops Amid Export Crisis
(Reuters, Deisy Buitrago, Marianna Parraga, 12.Jun.2018) – Venezuela’s state-run PDVSA [PDVSA.UL] and partners have halted operations at two upgraders that convert extra-heavy oil into exportable […]
Venezuela Won’t Have Enough Oil To Export By 2019
(OilPrice.com, Robert Rapier, 12.Jun.2018) – On May 21st President Donald Trump signed a new executive order prohibiting certain oil-related transactions with Venezuela. GlobalData, a leading […]
Venezuelan Decree Aims to Boost PDVSA Oil Capacity
(Energy Analytics Institute, Piero Stewart, 5.Jun.2018) – Decree No. 3368, dated April 12, 2018, and published in Gazette No. 41376, establishes a special transitional regime […]
Venezuela’s Grim Realities
(Anthony Venezia, Energy Intelligence, 30.May.2018) — The political and economic crisis afflicting Venezuela typically makes international headlines in connection with the possibility of sanctions being […]
Venezuela’s Energy Sectors Remain Attractive, Unattractive
(Energy Analytics Institute, 28.May.2018) — Venezuela’s upstream, downstream and midstream sectors remain attractive, yet unattractive to investors. Why the contradiction? The three sectors remain highly […]
PDVSA Ex-President Luis Giusti Says Co. Bankrupt
(Energy Analytics Institute, Jared Yamin, 14.May.2018) – Venezuela’s state oil company Petróleos de Venezuela, S.A. (PDVSA) is bankrupt, at least that what its former president […]
Conoco Authorized to Seize $636 Mln in PDVSA Assets
(Reuters, 13.May.2018) – A Curacao court has authorized ConocoPhillips to seize about $636 million in assets belonging to Venezuela’s state oil company PDVSA due to […]
Venezuela’s Oil Sector Glory Days [EAItv]
(Energy Analytics Institute, Piero Stewart, 1.May.2018) – A brief look at Venezuela’s oil sector glory days. Will they return?
Citgo Without CEO After Martinez Leaves
(Energy Analytics Institute, Piero Stewart, 17.Feb.2017) – Citgo Petroleum Corporation has yet to the report on a possible replacement to head the company after its […]