#United States #Houston #CITGO Petroleum #refinery throughput #operational performance

CITGO Petroleum's 2025 Year-End Results

CITGO Petroleum Corporation recently released its financial and operational results for the fourth quarter and full year of 2025, highlighting a remarkable performance driven by strong operational reliability and market conditions. The company reported a net income of $268 million for the fourth quarter, which marked substantial improvement compared to the previous quarter's net income of $167 million. The EBITDA for the fourth quarter reached $507 million, with an Adjusted EBITDA of $442 million, confirming the upward trend stemming from beneficial refining margins.

In terms of annual performance, CITGO achieved a net income of $452 million in 2025, with an overall EBITDA of approximately $1.28 billion and an Adjusted EBITDA of around $1.25 billion. These figures represent a strong year-over-year gain across all metrics, demonstrating the company's effective strategies for enhancing profitability in a challenging market environment. The total throughput for 2025 averaged 833,000 barrels per day (bpd), with a record-breaking crude processing figure of 760,000 bpd noted, corresponding to an average utilization rate of 92% for the entire year.

Operational Achievements

CITGO's operational performance remained exceptionally strong, reinforcing its position in the market. By the end of 2025, the company's total crude oil refining capacity increased to 829,000 bpd, a rise of 22,000 bpd from the prior year. During the fourth quarter, CITGO managed a throughput of 808,000 bpd, achieving this despite significant planned maintenance and turnaround projects. Notably, the Lake Charles refinery recorded impressive results after completing its maintenance activities, leading to consecutive records for crude processing and production reported in November and December.

Additionally, the Lemont refinery continued to perform strongly, setting a new benchmark for crude utilization rates and jet fuel production. The Corpus Christi facility also executed a successful major turnaround, completing several capital projects aimed at enhancing crude processing efficiency and output yields. This overall operational excellence not only underscores CITGO's commitment to maintaining high safety and efficiency standards but also positions it well for future growth.

Commercial Success

On the commercial side, CITGO demonstrated robust performance across several business units, notably in Supply and Marketing, Terminals and Pipelines, and Lubricants. The Marketing division achieved a sales volume of 430,000 bpd, and noted positive momentum with brand expansion for the second consecutive year. Furthermore, the Club CITGO loyalty program showed a significant increase, with gallon sales tied to the program rising by 34% year-over-year, and mobile payment transactions soaring by 70% following a successful integration of digital services.

The company celebrated its highest commercial sales volume on record and saw the Terminals and Pipelines business recognized with the ILTA Safety Excellence Award. Notably, lubricants operational performance contributed impressively, achieving the best financial results since 2008, with only one recorded incident under OSHA regulations during the year.

Looking Ahead

In his comments, Carlos Jordá, President and CEO of CITGO, emphasized the company's resilience despite facing planned maintenance and operational challenges. He stated, "Record-setting performance at our Lake Charles and Lemont refineries, continued brand momentum, and the strongest annual lubricants results in nearly two decades underscore the resilience of our business. As we look ahead, we remain focused on advancing our operational and commercial excellence initiatives while maintaining fiscal discipline."

With $2.45 billion of liquidity reported at year-end, including a strong capacity underpinned by the $500 million accounts receivable facility, CITGO is well-positioned to continue its strategic growth and enhance its presence in the refining sector. The company reduced its gross debt significantly by $1.825 billion during 2025, resulting in a negative net debt balance of approximately $795 million as of December 31, 2025. These financial indicators reflect CITGO's solid foundation and commitment to operational excellence moving forward.

About CITGO

CITGO owns and operates three significant petroleum refineries located in Lake Charles, Louisiana, Corpus Christi, Texas, and Lemont, Illinois, with a total rated crude oil refining capacity of approximately 829,000 bpd. Supported by an extensive distribution network, CITGO ensures reliable access to its end-markets while maintaining a robust presence across various states through its independently operated CITGO-branded retail outlets residing east of the Rocky Mountains. With over 100 years of brand recognition in the U.S., CITGO continues to prioritize operational excellence and market growth.