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Citgo Swings to $157M Profit in Q1 Amid Record Crude Processing Rates

GateNews

2026-05-14 14:25:33

IN0.01%

Citgo, the U.S. refiner owned by Venezuela, reported a first-quarter profit of $157 million, a sharp turnaround from a $82 million loss in the same period last year. The improvement was driven by a significant increase in refining capacity utilization. The company processed an average of 851,000 barrels per day in the quarter, with crude oil processing reaching a record 819,000 barrels per day. Utilization rates across its three refineries averaged 99% for crude oil processing.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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