Citgo Petroleum Corporation is owned by PDV America Inc., an indirect fully owned subsidiary of Venezuelan state-owned oil company PDVSA. It is engaged in refining, trading and transport of gasoline, aviation fuel, lubricants, oil byproducts, and sells petrochemicals and other industrial products across US. Founded in 1910, the company is headquartered in Houston. Citgo owns and operates three crude oil refineries located in Louisiana, Illinois and Texas, which process approximately 750,000b/d. It also operates 48 oil product terminals. The Venezuelan government announced in 2015 the sale of Citgo, however it later cancelled the process and announced a US2,5mn debt issuance instead to raise funds for the government.