Citgo Petroleum Corp. is postponing planned maintenance scheduled for 2021 at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery, said sources familiar with plant operations.
Citgo wants to maximize profits from the refinery during the coming year when a vaccine for COVID-19 is being widely deployed, the sources said.
A company spokesman was not immediately available to discuss maintenance plans.
Like all U.S. refiners, Citgo has taken deep losses because of the COVID-19 pandemic’s impact on demand for motor fuels.
The company has reported quarterly losses totaling $407 million through November. Third-quarter results were also hit by the eight-week shutdown at Citgo’s Lake Charles, Louisiana, refinery because of Hurricane Laura.
Reporting by Erwin Seba; Editing by Daniel Wallis and David Gregorio
