Citgo expects refinery utilization rate to continue rising

U.S. refining company Citgo Petroleum expects to continue increasing its refinery utilization rates after weather events hit its facilities last year and in the first quarter, Chief Executive Carlos Jorda said.

Citgo's utilization rate rose in March for an average of 83% in the first three months of the year, a quarter when a winter storm that severely affected refiners in the U.S. Gulf Coast contributed to the company's net loss of $180 million, the firm said last month.

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