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Citgo Petroleum Corporation is a petroleum company that deals with refining, transporting, and distribution of fuels, lubricants, and other petrochemical products. 

Citgo Petroleum Corporation has its headquarters in Houston, Texas. It is majorly owned by a Venezuelan state-owned corporation PDVSA. However, as of 2019, the Venezuelan government wasn't benefiting economically from CITGO due to imposed U.S. sanctions.

History of the Citgo Petroleum Corporation

The company was started in the early 1900s by oil entrepreneur Henry Latham Doherty. He was quick to rise the ladder of success in the oil business and by 1910, he had started Cities Service Company to supply gas and electricity to small public utilities. 

Most of the initial products Henry Latham Doherty made were through the acquisition of gas-producing properties in the mid-Continent and Southwest U.S. states. Very shortly, Cities Service Company created its own pipeline system and started tapping into dozens of gas pools. 

The entry of the company into the oil business was a logical plan for ensuring that it was easy for them to find and develop supplies of natural gas. To improve branding and support its public profile, Cities Service Company started to take part in sponsorship activities. In early 1925-1956, it sponsored Cities Service Concerts on NBC radio. This tradition is kept to date.

The Birth of Citgo Petroleum Corporation

Petróleos de Venezuela, S.A. (PDVSA) in 1986 acquired a fifty percent share of Cities Service Company. Four years after that, in 1990, PDVSA acquired the rest of the shares. This ownership structure remains until now.  Citgo headquarters move from Houston to Tulsa, Oklahoma.

Business Directions

The company offers a range of gasoline, diesel, and jet fuels to its large and diverse clientele in the oil refining industry, including CITGO No.1 and 2 Diesel Fuel, Low Sulfur, With Biodiesel for all grades.

With all these products available to the market, CITGO has added to this list by diversifying and engaging more in sponsorship in several motorsport ventures over the years and across the globe. It has also diversified and engaged in multiple sponsorship deals with numerous events throughout the United States. 

Citgo Petroleum Corporation is one of the largest oil refiners in the world. It boasts a large clientele and numerous branches globally. It is also one of the most popular marketers and distributors of oil products not only in the United States but across the globe.

FAQ

What type of company is CITGO?

The parent organization, CITGO Holding, Inc., or Citgo Petroleum Corporation is a gasoline, diesel, and jet fuels refinery corporation with clients located globally. 

Does CITGO sell oil?

CITGO sells gasoline, diesel, and jet fuels. It also provides industrial, agricultural, and automotive lubricants, oil, and greases as well as private label lubricants.

Typical Hours of Operation

Mo 6:00 - 24:00
Tu 6:00 - 24:00
We 6:00 - 24:00
Th 6:00 - 24:00
Fr 6:00 - 1:00
Sa 6:00 - 1:00
Su 6:00 - 24:00

Locations: 4710 locations in 45 states and 1987 cities.

Categories

  • Gas Stations
  • Convenience Stores

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