Courtesy of CITGO
U.S. refining company Citgo Petroleum Corp (PDVSAC.UL) expects to continue increasing its refinery utilization rates after weather events hit its facilities last year and in the first quarter, Chief Executive Carlos Jorda said on Wednesday. The company’s utilization rate rose in March for an average of 83% in the first three months of the year, when a cold snap that severely affected refiners in the U.S. Gulf Coast contributed to Citgo’s net loss of $180 million. Full Text -> Reuters
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