Venezuela’s Citgo Petroleum Corp saw its net profit fall to $380 million in the second quarter of this year, the company reported on Thursday. Citgo’s Q2 profit last year was $1.29 billion, and $937 million in the first quarter of 2023, and the refinery posted a record $2.8 billion in net profit for the full year 2022.
In the two years prior, Citgo reported two years of losses. Citgo refined 761,000 barrels of crude oil per day in the second quarter, with 94% capacity utilization. That’s down from Q1 figures, which showed the…Venezuela’s American Refinery Profit Falls In Q2
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