What specific investments has Amber Energy pledged for Citgo's refineries, and where are those refineries located?

Amber Energy has pledged $1 billion to add 125,000 barrels per day of crude oil refining capacity at Citgo’s 165,000-bpd Corpus Christi, Texas, refinery; $500 million to expand coking capacity at the 188,023-bpd Lemont, Illinois, refinery to boost diesel and asphalt output; and $250 million to expand premium gasoline production capacity at the 459,800-bpd Lake Charles, Louisiana, refinery.

What is the status of Amber Energy’s acquisition of Citgo, and who owns Amber Energy?

Amber Energy’s $5.9 billion purchase of PDV Holding—the parent company of Citgo—is pending final approval, contingent on the U.S. Treasury Department’s Office of Foreign Assets Control releasing Citgo, which is owned by Venezuela; Amber Energy is an affiliate of Elliott Investment Management.

Amber Energy says it will invest $11 billion in Citgo if sale is finalized

Apr 24, 2026

Amber Energy CEO Greg Goff pledged an $11 billion investment plan for Citgo Petroleum, targeting capacity expansions across multiple refineries, pending regulatory approval of the acquisition from Venezuela.

reuters

2026-04-24

Amber Energy says it will invest $11 billion in Citgo if sale is finalized

Amber Energy says it will invest $11 billion in Citgo if sale is finalized

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