September 26, 2016 10:05 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

Phone:

832-486-4000

Fax:

832-486-1814

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.

Similar Private Companies By Industry

Company Name Region
102 Oil Wells in East Texas Field United States
11 Good Energy, Inc. United States
1280 Horizons, LLC United States
15 Fields in Williston Basin United States
153 Woodbine Wells in The East Texas Oil Field in Rusk County United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact CITGO Petroleum Corporation, please visit www.citgo.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.