From the get-go CITGO Petroleum has been refining and marketing petroleum products, including jet fuel, diesel fuel, heating oils, and lubricants. It markets CITGO branded gasoline through about 6,000 independent retail outlets in 27 US states, mainly east of the Rockies. CITGO Petroleum owns oil refineries in Illinois, Louisiana, and Texas. The company has the refining capacity to process more than 749,000 barrels per day. Its refineries collectively produce about 17 million gallons of gasoline per day. CITGO Petroleum is the operating subsidiary of PDV America, itself a subsidiary of Venezuela's national oil company PDVSA.
CITGO Petroleum has three lubricant blending plants, about 50 storage terminals and access to an additional 140 facilities. The company also had an agreement to access the St. Croix, Virgin Islands refinery jointly owned by PDVSA and US-based Hess, but the parties shut down the HOVENSA refinery in 2012 due to poor market conditions and high operating expenses.
Growing its retail network, in 2011 the company converted 42 locally owned gas station in Maine and New Hampshire to the CITGO brand.
One of CITGO Petroleum's public relations initiatives is that it annually provides low-cost heating oil to selected low income communities as a way to offset high fuel prices. In early 2011 the company supplied 132,000 low-income households in 25 states, as well as 250 tribal communities and 234 homeless shelters. That year it invested more than $75 million in contributions for community activities.
CITGO traces its history to Cities Service Company, founded in Oklahoma in 1910. PDVSA took control of the company in 1990. In 2010 Venezuelan President Hugo Chavez announced a long term interest in selling CITGO Petroleum in order to generate cash for parent company PDVSA. – less