citgo in A Sentence

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    Citgo Petroleum Corporation.

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    In Aruba, PDVSA and its unit Citgo lease a refinery and a storage terminal.

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    Citgo in 2016 signed an up to 25-year lease with the government of Aruba to refurbish and operate the plant as part of a $685 million project.

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    The lack of financing had delayed work to restart the idled refinery this year and to convert it into an oil upgrader, Citgo said earlier this week.

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    Crystallex also hired the Moelis & Company investment bank to advise it on a possible sale of Citgo, although that process has been stayed during the appeal by Venezuela and PDVSA.

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    Shortly after the US announcement, Guaido said that he has ordered the“transfer” of the country's accounts abroad and had initiated a process to designate new directors of Citgo Petroleum Corporation and PDVSA.

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    (Reuters)- Citgo Petroleum, the U.S. refining arm of Venezuela's state-run oil company PDVSA, said on Thursday it appointed two senior executives to new positions as it works to refurbish an idled Aruba refinery.

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    June 28(Reuters)- Citgo Petroleum, the U.S. refining arm of Venezuela's state-run oil company PDVSA, said on Thursday it appointed two senior executives to new positions as it works to refurbish an idled Aruba refinery.

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    9

    With declining margins in the industry and left without Citgo's reserves, Mesa and its investor partners kept hunting for a takeover target, only to discover while fighting Gulf for Citgo how increasingly top-heavy its portfolio and declining reserves were undervaluing its overall assets.

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    The state-owned oil company used Citgo Petroleum, its refining unit in the United States, as over 50 percent collateral on that bond and may be complying with the payment in order to avoid putting the valuable refinery at risk in a potential legal battle.

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    11

    Its undoing as an independent company began in 1982 when T. Boone Pickens, an Amarillo, Texas oilman and corporate raider(or greenmailer), and owner of Mesa Petroleum, made an offer for the comparatively larger(but still considered"non-major" oil company) Cities Service Company(more generally known by the name Citgo) from Tulsa, Oklahoma, which was then trading in the low 20s.

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