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Citgo Refinery Goes Offline

Citgo Petroleum Corp., the wholly-owned subsidiary of Venezuela's state oil company Petroleos de Venezuela or PDVSA, said its refinery in Lemont will not operate for at least six weeks after a fire damaged last week.

The refinery, which has a throughput of 160,000 barrels per day (bpd), is just west of Chicago. The company declined to comment on whether fuel prices in Illinois would be affected. But the company in a statement said its loss would be significant.

"Based on a preliminary assessment, it is currently expected that the crude unit will not return to service for six weeks and the total estimated loss for Citgo is expected to be $25 million," the statement said.
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