Citgo

Citgo logo

Citgo locations 2020 September

Cities Service, 425 Grinnell St, Key West, FL

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Cities service newspaper ad

Citgo-Petrol Station

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Day Park City Chicago

Citgo Petroleum Corporation is a American petroleum company that provides a mix of refining, marketing, and transport of petroleum products. Citgo is owned by PDV America, Inc., a subsidiary of the Venezuelan state-owned Petróleos de Venezuela, S.A. (PDVSA), highlighting its significant role in the international petroleum and energy sectors.

History

The origins of Citgo date back to 1910, when the company was founded in Bartlesville, Oklahoma, as the Cities Service Company. Initially, it was established to supply gas and electricity to small public utilities. Over the decades, the company expanded its operations into oil and gas exploration, production, refining, and marketing. In 1965, the company introduced the Citgo brand, derived from "Cities Gas Oil". The Citgo brand became well-known across the United States, especially after the company adopted its iconic trimark logo in 1982, symbolizing quality and service across its thousands of service stations.

In 1986, Cities Service Company was acquired by Occidental Petroleum Corporation, but the refining, marketing, and transportation operations were subsequently sold to PDVSA, marking a significant shift in the company's ownership and strategic direction. This acquisition by PDVSA linked Citgo's operations closely with Venezuela's oil production, making it a key asset in PDVSA's international portfolio.

Operations

Citgo operates three refineries in the United States, located in Lake Charles, Louisiana, Corpus Christi, Texas, and Lemont, Illinois. These refineries have a combined crude oil refining capacity of approximately 749,000 barrels per day, making Citgo one of the largest refiners in the nation. The company's product portfolio includes gasoline, jet fuel, diesel, petrochemicals, and lubricants, distributed across a network of independently owned service stations.

In addition to its refining operations, Citgo is also involved in various social and environmental initiatives, reflecting its commitment to corporate social responsibility. These programs focus on education, environmental conservation, and community development, aiming to make a positive impact in the communities where Citgo operates.

Controversies and Challenges

Citgo has faced several controversies and legal challenges over the years, primarily related to its ownership by PDVSA and the political and economic situation in Venezuela. Sanctions imposed by the United States on Venezuela have complicated Citgo's operations, creating financial and operational hurdles for the company. Moreover, legal battles over control of the company have emerged, reflecting the broader political struggle within Venezuela.

Future Outlook

The future of Citgo remains uncertain, given the volatile political situation in Venezuela and the changing dynamics of the global energy market. However, the company continues to focus on its core business operations, environmental and social initiatives, and navigating the complex regulatory environment.