CITGO Petroleum Corporation

What CITGO Petroleum Corporation does

CITGO Petroleum Corporation is a vertically integrated petroleum refiner and marketer headquartered in Houston, Texas, operating as the 5th largest independent refiner in the United States. The company operates three complex refineries in Lake Charles, Louisiana (479,000 bpd), Lemont, Illinois (183,000 bpd), and Corpus Christi, Texas (167,000 bpd) with combined crude processing capacity of 829,000 barrels per day. CITGO supports refining with an integrated midstream and downstream footprint of 43 active terminals with 21.7 million barrels of storage capacity, 8 pipelines, and a branded retail network of nearly 4,100 locally owned and independently operated gas stations. The company also operates three lubricants blending and packaging plants under the CITGO, Mystik, and Clarion brands.

CITGO's core product portfolio is centered on transportation fuels (TOP TIER+ TriCLEAN gasoline, ultra-low sulfur diesel, biodiesel, and jet fuel produced at Lake Charles and Lemont), lubricants and greases for agricultural, automotive, commercial, and industrial sectors, and petrochemicals (aromatics, aliphatic solvents, olefins) serving consumer goods manufacturers. Consumer engagement is anchored by the Club CITGO loyalty program and mobile app, the CITGO PlusPAY ACH-based mobile payment feature, and CITGO Fleet Card programs (processed via WEX). The fleet card business offers customized controls, purchase limits, and fuel rebates up to 7¢ per gallon for commercial fleet operators.

Revenue is generated through wholesale and branded retail sale of refined products at market-determined prices, lubricants distribution through a network of lubricant marketers, direct jet fuel supply to aviation customers, and petrochemical/solvent sales to industrial manufacturers. The company is wholly owned by PDV Holding, which is in turn owned by Petróleos de Venezuela, S.A. (PDVSA), the Venezuelan state oil company; a court-approved $5.9 billion sale of PDV Holding to Amber Energy (an Elliott Investment Management affiliate) is pending OFAC regulatory approval and is expected to close in 2026, with a committed $11 billion investment including $1 billion for new 125,000 bpd refining capacity at Corpus Christi.

Name

CITGO Petroleum Corporation

Legal name

CITGO Petroleum Corporation

Website

https://citgo.com

Company type

Private

Founded year

1910

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

CITGO Petroleum Corporation is the 5th largest independent U.S. petroleum refiner, operating three refineries with 829,000 barrels per day of capacity, 43 terminals, 8 pipelines, and nearly 4,100 branded retail stations, serving retail, commercial fleet, industrial, aviation, and petrochemical customers across the United States.

Ownership category

akta.pro rank

Product category

Petroleum Refining & Fuel Marketing

NAICS

Petroleum Refineries (32411), Petroleum Lubricating Oil and Grease Manufacturing (324191), Gasoline Stations (4571), Pipeline Transportation of Refined Petroleum Products (486910)

SIC

Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives) (EUALAGAJ)

akta.pro secondary industries

Automotive Lubricants (PCMO, HDMO, ATF, Gear Oils, Coolants) (EUALAJAH), Greases & Specialty Lubricants (Greases, Pastes, Chain Oils, Silicone/Fluoro) (EUALAJAJ), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK), Lubricants, Fluids & Chemical Products Distribution (Oils, Coolants, AdBlue/DEF, Cleaners) (TLAKAOAL)

Keywords

• Petroleum refining
• Fuel marketing
• Lubricant manufacturing
• Petrochemical production
• Terminal operations

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Refining and Fuel Distribution: CITGO refines crude oil into transportation fuels, petrochemical products, and specialty products. Revenue is generated through sale of refined products including gasoline, diesel, jet fuel to wholesale customers, branded retailers, and through company-owned terminal network. Processing up to 829,000 barrels per day across three refineries.
2. Lubricants: Production and distribution of lubricants and greases under CITGO, Mystik, and Clarion brands for agricultural, automotive, commercial, and industrial sectors. Sold through network of lubricants marketers and distributors.
3. Petrochemicals and Solvents: Production of aromatics, derivatives, aliphatic solvents and olefins used in manufacturing of clothing, paints, coatings, protective packaging, tires, carpet and other consumer products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

CITGO Petroleum Corporation refines crude oil into transportation fuels, lubricants, and petrochemical products at three U.S. refineries with combined capacity of 829,000 barrels per day. The company markets these products through a network of nearly 4,100 branded retail stations, fleet card programs, lubricants distributors, and direct industrial/aviation supply channels. Its portfolio includes TOP TIER+ TriCLEAN gasoline, diesel, jet fuel, Mystik and Clarion lubricants, petrochemicals, and solvents.

Product overview

CITGO Petroleum Corporation is a vertically integrated petroleum refiner and marketer operating three refineries with combined crude capacity of 829,000 barrels per day. The company operates as a single unified business focused on refining, marketing, and distributing transportation fuels and petroleum products. Its core product portfolio centers on TOP TIER+ TriCLEAN Gasoline and diesel fuels, complemented by a comprehensive lubricants business under CITGO, Mystik, and Clarion brands. The company supports its fuel operations through loyalty (Club CITGO), fleet card management (WEX-powered Fleet Cards), and payment solutions (PlusPAY mobile payments). Additional offerings include jet fuel, petrochemicals, solvents, and gift cards. The lubricants division includes LubeAlert fluid monitoring services and serves agricultural, automotive, commercial, and industrial sectors.

Differentiator

Problem solved

Functional benefit

Brands

• Mystik: Lubricant brand
• Clarion
• TOP TIER+ TriCLEAN

Products and services

• TOP TIER+ TriCLEAN Gasoline Custom-blended gasoline with enhanced nitrogen-cleaning agents and TOP TIER+ certification across all three grades, exceeding EPA standards for engine cleaning and performance. Sold at CITGO branded retail stations and through wholesale distribution.
• CITGO Diesel Ultra-low sulfur and biodiesel fuels meeting industry standards for diesel engines. Distributed through terminals, branded stations, and direct supply to commercial customers.
• CITGO Jet Fuel Jet fuel produced at Lake Charles and Lemont refineries, supplied directly to aviation customers with strategic terminal access across Gulf, Midwest, and Northeast regions.
• CITGO Lubricants Full range of lubricants and greases for agricultural, automotive, commercial, and industrial sectors, sold through a network of lubricants marketers and distributors.
• Mystik Lubricants Industrial and commercial lubricant brand under the CITGO portfolio, targeting heavy-duty equipment and specialized machinery applications.
• Clarion Lubricants Food-grade and environmental lubricant products under the CITGO portfolio for specialized applications in food processing and environmentally sensitive areas.

Quantifiable outcome

• 99% average crude utilization rate across three refineries in Q1 2026
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Muscular Dystrophy Association (MDA)coreStrategic or Co-development PartnerLong-standing partnership since 1986 raising over $290 million for neuromuscular disease research, care, and advocacy through fundraising events including golf and bowling tournaments, walk-a-thons, shamrock sales, and auctions. 2025 marked most successful year with $4.36 million raised.
• United WaymajorStrategic or Co-development PartnerOver 40-year partnership with United Way generating hundreds of thousands of dollars annually through refinery fundraising events. Lake Charles employees contributing since 1975, followed by Lemont in 1998 and Corpus Christi in 2009.
• Bess the Book Bus / Jennifer FrancesminorStrategic or Co-development PartnerLiteracy initiative since 2010 donating over 50,000 books annually to more than 25,000 children across dozens of states, breaking down barriers to education for families of all income levels.
• PSE&G (Public Service Electric and Gas)minorStrategic or Co-development PartnerCollaboration on osprey nest relocation from electrical infrastructure on Petty's Island, coordinated with NJ Natural Lands Trust and Conserve Wildlife Foundation of New Jersey.
• Bank of America Boston MarathonmajorGTM or Marketing PartnerOfficial fuel sponsor of the 130th Boston Marathon in April 2026, sponsoring team of 25 runners and community partners to promote resilience and community spirit.
• Maria Corina Machado / Venezuela OppositionminorOthersVenezuelan opposition leader advocating for keeping Citgo as strategic asset for Venezuela while supporting reduction of PDVSA's size and transfer of operations to private sector.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• PBF Energy: Independent U.S. refiner operating five refineries with roughly 1 million bpd of capacity, including East Coast, Gulf Coast, and West Coast assets. PBF is the closest direct peer to CITGO by asset profile, scale, and focus on transportation fuels rather than integrated chemicals.
• Valero Energy: The largest U.S. independent refiner with ~3.2 million bpd capacity across 15 refineries plus a branded wholesale and retail network. Comparable to CITGO in combining flexible refining, a branded fuels marketing arm, and a growing renewables/lubricants-adjacent product mix.
• Marathon Petroleum: One of the largest U.S. refiners with ~2.9 million bpd of capacity, a national midstream/logistics platform, and branded retail (historically Speedway). Compares to CITGO on integrated refining, branded marketing, and pipeline/terminal infrastructure.
• Phillips 66: Integrated downstream and midstream operator with refining, marketing, and specialty businesses including lubricants and petrochemicals. Closely comparable to CITGO across refining, branded marketing, lubricants, and pipeline/terminal assets.
• HF Sinclair (HollyFrontier): Independent refiner with ~600,000 bpd of capacity across six refineries and a specialty lubricants business (Petro-Canada Lubricants, Sinclair). Highly comparable to CITGO in combining medium-scale complex refining with a meaningful lubricants franchise.
• Delek US Holdings: Smaller independent refiner with refineries in Texas, Louisiana, and the Mid-Atlantic, plus retail and logistics segments. Comparable to CITGO as a regionally focused independent refiner with integrated midstream and retail exposure.
• Sunoco LP: Master limited partnership focused on fuel distribution, terminals, and pipelines across the U.S., with ~14,000 branded sites. Overlaps with CITGO's downstream wholesale, terminal, and pipeline footprint and its licensed-branded dealer model.
• Murphy USA: High-volume, low-cost fuel retailer with ~1,750 stores, predominantly near Walmart. Comparable to CITGO's downstream retail economics and to the consumer-facing fuel loyalty/value proposition CITGO is building with Club CITGO.

Others

• WEX Inc. Commercial fleet card and payments processor that already partners with CITGO to power the CITGO Fleet, Fleet Select, and Fleet Universal programs. Included as an adjacent ecosystem participant and potential partner/peer in fleet payments monetization.

Broad incumbents

• BP (BP Products North America): Global integrated oil major with substantial U.S. refining, marketing, and lubricants (Castrol) operations. Comparable to CITGO on refining/marketing/lubricants as a broader incumbent with overlapping capabilities but vastly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@CITGOFuelingGood
• Facebookfacebook.com/CITGO
• LinkedInlinkedin.com/company/8453
• Instagraminstagram.com/citgo

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments37 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CITGO Petroleum Corporation