October 25, 2016 6:07 AM ET

Oil, Gas and Consumable Fuels

Company Overview of CITGO Petroleum Corporation

Company Overview

CITGO Petroleum Corporation refines, transports, and markets transportation fuels, lubricants, petrochemicals, and other industrial products. It offers consumer products, including gasoline, jet fuel, kerosene, automotive oils, transmission fluids, small engine oils, gear oils, and greases; and business products, such as retail gasoline, rock drills and high-performance engine oils, and petrochemicals and solvents. The company was formerly known as CITGO and changed its name to CITGO Petroleum Corporation in March 1983. The company was founded in 1910 and is headquartered in Houston, Texas. CITGO Petroleum Corporation operates as a subsidiary of PDV America, Inc.

1293 Eldridge Parkway

Houston, TX 77077-1670

United States

Founded in 1910

4,000 Employees





Key Executives for CITGO Petroleum Corporation

Chairman, Chief Executive Officer and President
Vice President of Finance
Corporate Treasurer
Vice President of Legal Affairs
Vice President of Human Resources
Compensation as of Fiscal Year 2016.

CITGO Petroleum Corporation Key Developments

CITGO Opens New CITGO-Subway Location in Pennington, New Jersey

CITGO Petroleum Corporation has announced the opening of a new CITGO-Subway location in Pennington, New Jersey, after a four-month refurbishment project initiated by owner Guleria Enterprises. Located at 102 Washington Crossing Road, the gas and convenience store location will provide 10 to 15 new jobs for local residents, including students from Hopewell Valley High School and Mercer County Community College.

Venezuela Cancels Sale of Citgo

Bolivarian Republic of Venezuela has cancelled the auction of CITGO Petroleum Corporation. The auction was scrapped as Citgo is planning to raise $2.5 billion in debt instead.

Citgo Reportedly Valued At More Than $10 Billion In Revised Bids

CITGO Petroleum Corporation has received revised bids from at least four bidders, some which have valued the company at more than $10 billion, according to three people familiar with the matter. The companies that made bids in December include HollyFrontier Corporation (NYSE:HFC), Valero Energy Corporation (NYSE:VLO), Marathon Petroleum Corporation (NYSE:MPC) and a consortium of TPG Capital, L.P. and Riverstone Holdings LLC, the people familiar with the matter said. Lazard Ltd (LAZ.N), the investment bank hired by Venezuela's state-run Petróleos de Venezuela S.A. to explore a sale of Citgo, has not told bidders if there will be an additional round of bids, the people familiar with the matter said.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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