According to sources familiar with the operation of the power plant, Sitgo is postponing maintenance scheduled for 2021 at 167,500 barrels per day in Texas. Sitgo wants to maximize refinery profits over the next year, when the COVID-19 vaccine is widely used, sources said.
A company spokesman was not immediately available for comment on maintenance plans. Like all American refineries, Sitgo has suffered profound losses due to the impact of the COVID-19 epidemic on engine fuel demand.
The company reported quarterly losses of $ 407 million as of November. Third-quarter results also resulted in an eight-week shutdown at Citgo’s Lake Charles, Louisiana refinery due to Hurricane Laura.