What caused Citgo's Q2 profit to surge to $936 million from $100 million year-on-year?

Citgo's Q2 profit surged to $936 million from $100 million year-on-year 'amid solid refining margins related to global supply disruptions', specifically citing 'the U.S.-Israeli war on Iran and shipping bottlenecks in the Strait of Hormuz' which pushed buyers to pay higher premiums for fuel, boosting profits for U.S. refiners.

What is the current status of Citgo's potential ownership change, and what condition must be met for it to proceed?

Ownership of Citgo could change to an affiliate of Elliott Investment Management if 'a court-ordered auction to pay Venezuela-linked creditors completed in Delaware last year is ultimately approved by the U.S. Treasury Department', a decision that 'remains pending'.

Citgo's Profit Jumps to $936 Million in Q2 Amid Strong Margins

Aug 13, 2026

Citgo Petroleum reported a Q2 profit surge to $936 million driven by solid refining margins amidst global supply disruptions. The Houston-based refiner projects full-year EBITDA of $5.8 billion while awaiting approval on a potential ownership transfer.

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Citgo's Profit Jumps to $936 Million in Q2 Amid Strong Margins

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