{
  "id": 781926,
  "title": "Citgo Petroleum profit jumps to $936 million in second quarter",
  "url": "https://urgent.news/2026/08/13/citgo-petroleum-profit-jumps-to-936-million-in-second-quarter",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T16:05:30.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/earnings/citgo-petroleum-profit-jumps-to-936-million-in-second-quarter-93CH-4858756"
  },
  "original_language": "en",
  "account": null,
  "summary": "Citgo Petroleum reported a significant increase in profit for the second quarter, reaching $936 million, up from $100 million in the same period last year. The Venezuela-owned U.S. refiner attributes the growth to solid refining margins due to global supply disruptions. Operating refineries with a combined capacity of 829,000 barrels per day, Citgo's ownership may transfer to an affiliate of Elliott Investment Management pending approval from the U.S. Treasury Department. The potential change is a result of a court-ordered auction in Delaware last year aimed at paying Venezuela-linked creditors. Global supply disruptions, including those caused by the U.S.-Israeli war on Iran and shipping bottlenecks in the Strait of Hormuz, have driven up fuel supply premiums, benefiting many U.S. refining firms. Looking ahead, Citgo is balancing near-term market opportunities with longer-term investment priorities by shifting certain planned investments into 2027. The company projects full-year 2026 earnings before interest, taxes, depreciation, and amortization of approximately $5.8 billion, with a year-end cash balance expected at around $5.7 billion, assuming no changes in projected working capital.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}