Citgo Petroleum posts first profit in seven quarters


HOUSTON: Citgo Petroleum Corp reported a slim, second-quarter profit, its first in seven quarters, as higher fuel exports helped offset weak margins and the impact of a fuel pipeline shutdown.

Earnings at the US refining arm of Venezuela’s state oil company Petroleos de Venezuela have been under pressure since it lost access to Venezuelan oil due to US sanctions. Citgo is also battling possible seizure by creditors seeking to collect on unpaid debts incurred by PDVSA and Venezuela.

Subscribe now and receive free sooka plan for 1 month. T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Sarawak Cable, Annum decline in early trade on potential delisting
Mild bounce on Bursa Malaysia amid subdued trading
Ringgit opens higher against greenback on weaker US economic outlook, tariff concerns
Oil rises 1% on reports Israel preparing strike on Iranian nuclear facilities
Trading ideas: Maybank, Velesto, Duopharma, IHH, Malakoff, EcoWorld, SCable, MBSB, Kimlun, Sapura Industral, Eversendai, SunCon, PetChem, Aeon, TSH, MyEG
Oil prices little changed on geopolitical uncertainty
US stocks slip, rising Treasury yields in focus
Maybank partners with ministry for MM2H initiative
PetChem dragged by O&D segment amid challenges
MyEG to drive organic growth through Zetrix

Others Also Read