The private Houston refiner said it processed 731,000 barrels per day of crude during the...
Citgo Petroleum Corp. said its earnings jumped in the first quarter as petroleum supplies tightened and global demand soared.Citgo Petroleum Corp. said its earnings jumped in the first quarter as petroleum supplies tightened and global demand soared.net income of $245 million in the first quarter compared to a loss of $180 million during the same period last year.
It said it processed 731,000 barrels per day of crude during the quarter, when its utilization rate, an indication of its productivity, was 95 percent. "We have worked hard to position CITGO operationally and commercially to benefit from improved refining margins, and the first quarter provided this opportunity," said Carlos Jordá, the company’s president and chief executive.
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