CITGO Posts Record Q3 2026 Earnings with $2.2 Billion Net Income

## CITGO Reports Best Quarterly Earnings on Record in Q3 2026 CITGO Petroleum Corporation has delivered a landmark financial performance for the third quarter of 2026, posting net income of $2.2 billion and both EBITDA and Adjusted EBITDA of $3.0 billion — the strongest quarterly results in the company's history, according to a PR Newswire release issued by the refiner. The results are particularly significant in the context of the company's broader financial trajectory. Year-to-date Adjusted EBITDA of $4.7 billion has already surpassed CITGO's previous full-year earnings record, which was set in 2022 during a period of elevated refining margins driven by post-pandemic energy demand and supply disruptions. ### Implications for the Energy and Maritime Sectors CITGO operates three major refineries in the United States — located in Lake Charles, Louisiana; Corpus Christi, Texas; and Lemont, Illinois — with a combined crude oil processing capacity of approximately 807,000 barrels per day. The company's refining operations are closely tied to maritime supply chains, as crude feedstocks are delivered via tanker and pipeline infrastructure, and refined petroleum products are distributed in part through coastal and inland waterway shipping. Strong refining margins and high throughput volumes are typically the primary drivers of earnings performance of this magnitude. While CITGO has not yet released a full operational breakdown for the quarter, the scale of the results suggests sustained high utilization rates and favorable crack spreads during the period. ### Corporate Context CITGO has operated under complex ownership circumstances in recent years following legal proceedings related to its former parent, Petróleos de Venezuela (PDVSA). The company has been subject to creditor claims and court-supervised sale processes in the United States, making its financial performance a closely watched indicator for stakeholders across the energy and legal communities. The record earnings may strengthen the company's position as it navigates ongoing ownership and restructuring matters, providing a robust financial foundation regardless of the ultimate outcome of those proceedings. Full third-quarter financial details, including segment-level performance and capital expenditure figures, are expected to be disclosed in accompanying financial statements. Industry observers will be watching closely to assess whether current market conditions are sustainable into the fourth quarter of 2026. *Source: PR Newswire / CITGO Petroleum Corporation*