CITGO Sees $100 Million Net Income in Second Quarter 2025
CITGO Reports Second Quarter Financial Results
CITGO Petroleum Corporation has shared its financial performance for the recent second quarter. The company demonstrated resilience and growth in its operations, reporting a net income of $100 million. This marks a significant turnaround from the previous quarter, where it faced a net loss of $82 million. In addition to net income, CITGO posted an EBITDA of $325 million and Adjusted EBITDA of $346 million, underscoring its operational strength.
Operational Highlights
During this quarter, CITGO recorded total throughput of 858,000 barrels-per-day (bpd). The quality of operations was sustained with crude processing reaching 816,000 bpd, reflecting an impressive average crude utilization rate of 101%. The tight operating margin allowed for solid returns, a testament to the ongoing effective management of the company’s refineries.
Performance of Individual Refineries
Each of CITGO's refineries played a crucial role in driving overall performance:
- The Lake Charles Refinery set a remarkable record with a crude processing rate of 478,000 bpd, which is a significant improvement compared to the 460,000 bpd recorded in the prior quarter.
- Corpus Christi Refinery also highlighted its operational success, showing an increase in light crude processing from 41% to 57%, thereby enhancing overall output.
- The Lemont Refinery achieved record production volumes for jet fuel, affirming CITGO's commitment to meeting market demands effectively.
Liquidity Position and Investments
At the end of this quarter, CITGO reported a robust liquidity position of $2.6 billion. This figure includes full availability under its $500 million accounts receivable securitization facility, which further affirms CITGO’s strong financial standing.
Future Plans and Strategic Projects
The CEO of CITGO, Carlos Jordá, stated plans to advance key strategic projects in the latter half of the year. This includes the rescheduling of turnaround activities at the Lemont and Lake Charles Refineries to 2026, optimizing execution when conditions allow for improved operational performance. These future projects are aimed at ensuring sustainable growth and enhancing refinery capabilities.
Commitment to Safety and Sustainability
CITGO has maintained a sharp focus on process safety and operational reliability, which has resulted in no recordable injuries or environmental incidents across its refineries during the second quarter. This commitment to safety is embedded in their corporate culture, ensuring the well-being of their employees and the community.
Market Position and Brand Recognition
With over 4,000 independently owned and operated CITGO-branded retail outlets spread across the eastern United States, CITGO continues to maintain a strong brand presence in the market. The company has established a legacy in the gas and oil industry, with more than a century of service.
Frequently Asked Questions
1. What were CITGO's key financial results for the second quarter?
CITGO reported a net income of $100 million and EBITDA of $325 million for the second quarter of 2025.
2. How has the operational performance of CITGO's refineries improved?
CITGO's refineries demonstrated high utilization rates, with Lake Charles Refinery achieving a record processing rate of 478,000 bpd.
3. What is CITGO's liquidity position?
As of the end of the quarter, CITGO reported liquidity of $2.6 billion.
4. What are CITGO's future plans regarding strategic projects?
The company plans to advance key strategic projects, including rescheduling turnaround activities for 2026 at its refineries.
5. How does CITGO prioritize safety in its operations?
CITGO has maintained a strong safety record with no injuries or environmental incidents reported during the second quarter.
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