Citgo Petroleum Corporation or Citgo is a United States-incorporated, Venezuela-owned
refiner and marketer of gasoline, lubricants, petrochemicals and other petroleum
products.
The Citgo gasoline brand was inaugurated in 1965 by
the Cities Service Company, a United States based energy company that first rose
to prominence in the early 1900s. Cities Service Company was acquired by Occidental
Petroleum Corporation in 1982. That same year, Cities Service Company transferred
all of the assets of its Refining, Marketing and Transportation division
(which comprised its refining and retail petroleum business) into the newly
formed Citgo Petroleum Corporation subsidiary, to ease the divestiture of the
division. In 1983, Citgo and the Citgo brand was sold by Occidental to Southland
Corporation, owners of the 7-Eleven chain of convenience stores; 50% was sold
to Petróleos de Venezuela in 1986, and the remainder in 1990.
Citgo
has supplied 14,000 retailers, but in July 2006 announced plans to cease serving
14% of their independent retailers in the United States.
As of 2004,
the company is headquartered in Houston, Texas, with over 4,000 employees
and annual revenue in excess of $32 billion. Before relocating to Houston, Citgo
was headquartered in Tulsa, Oklahoma. (Cities Service Company continued on under
various Occidental names as a part of OXY's domestic exploration and production
business, but all Cities Service trademarks are now owned by Citgo.)
Founded 1965 Bartlesville, Oklahoma
Headquarters Houston, Texas
Industry
Oil and Gasoline
Employees 4,000
Website www.citgo.com |
