Houston Chronicle by Marissa Luck Aug. 23, 2019
Citgo Petroleum’s new chief executive said Friday that he plans to steer the company through geopolitical and legal challenges that have left the future of Houston refiner uncertain as Venezuela’s creditors circle and the standoff with the regime of President Nicolás Maduro hardens.
Carlos Jorda, named CEO by the Citgo board last week, is an oil industry veteran who once worked as an executive of Citgo’s parent, the Venezuelan national oil company PDVSA, and another of its U.S. subsidiaries, PDV America. He was chairman of the Citgo board from 1999 to 2002.
Jorda said the felt an obligation to Venezuelan opposition leader Juan Guaido, which led him to return to Citgo. “This is my contribution,†Jorda said in his first interview since becoming CEO.
Citgo is under the control of a board of directors named by Guaido. The United States and many other nations recognize Guaido as Venezuela’s interim president as they seek to oust Maduro, who has presided over an economic collapse that has left Venezuelans without food, medicine and other necessities.
Jorda will take control of the company that earned $834 million last year. Citgo describes itself as the fifth largest oil refiner in the nation with its three oil refineries in Lake Charles, La., Corpus Christi and Lemont, Ill. The company has roughly 3,400 employees, including about 800 employees in Houston, plus about 5,000 retail gas stations nationally.
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