XLE & Oil

Citgo Raises Profit Outlook by $2B

Rigzone·Oct 20, 2026 · 8:18 AM CT
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Citgo Petroleum shared an updated outlook and preliminary third-quarter results with investors on Friday, according to a document seen by Bloomberg News.

The refiner now expects 2026 EBITDA of $7.7 billion to $8 billion, up from the $5.8 billion forecast with second-quarter results in August.

It is the latest refiner to profit from fuel margins lifted by the Iran conflict and the effects of Russia's war on Ukraine; ExxonMobil signaled last week it would likely post record refining earnings.

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Read the original at Rigzone

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