CITGO increases its existing accounts receivable securitization facility
HOUSTON, October 1, 2021 CITGO Petroleum Corporation announced today that the September 30, 2021, he changed his agreement with Barclays as program administrator to increase his $ 250 million facility for securitization of receivables $ 500 million. The proceeds of the facility made available to CITGO will be used for general corporate purposes.
Based in Houston, Texas, CITGO Petroleum Corporation is a recognized leader in the refining industry with a well-known brand. CITGO operates three refineries located in Lake Charles, Louisiana; Lemont, Illinois; and Corpus Christi, Texas, and wholly and / or jointly own 38 active terminals, six pipelines and three lubricant blending and packaging plants. With approximately 3,300 employees and a combined crude capacity of approximately 769,000 barrels per day (b / d), CITGO is ranked as the fifth independent refiner and one of the most complex in the United States. CITGO transports and markets transportation fuels, lubricants, petrochemicals and other industrial products and provides a network of approximately 4,400 locally owned and operated branded retail outlets, all located east of the mountains. Rockies. CITGO Petroleum Corporation is owned by CITGO Holding, Inc.
Certain information included in this press release may be considered “forward-looking statements” under applicable securities laws and other laws that involve risks and uncertainties. These statements relate, among other things, to expectations regarding our industry, our business strategy, our objectives and our expectations regarding our market position and our future operations or performance. We have used the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “can”, “plan”, “predict”, “plan”. , “” Would be “and similar terms and expressions to identify forward-looking statements, which speak only as of the date of this press release.
Forward-looking statements are not guarantees of future events and are subject to risks and uncertainties that could cause actual events, developments and business decisions to differ materially from those contemplated by such forward-looking statements. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions (including current market conditions), expected future developments and other factors. they deem appropriate. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of these assumptions could prove to be incorrect and forward-looking statements based on these assumptions could be incorrect. In addition, our business and operations involve many risks and uncertainties, many of which are beyond our control, which could cause our expectations not to be achieved or could otherwise significantly affect our financial position, results of operations. operations and our cash flow. We caution readers that these forward-looking statements are subject to known and unknown risks and uncertainties which may cause actual results to differ materially from projected results, whether expressed or implied. These risks and uncertainties include, among others, risks related to the effects of the ongoing COVID-19 pandemic, general economic activity, developments in international and domestic oil markets, and refinery turnarounds and operations. Readers are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this press release are made only as of the date of this press release. We disclaim any obligation to update any forward-looking statements.
SOURCE CITGO Corporation