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Citgo- Layoff/Restructuring
Posted on 5/7/26 at 7:29 am
Posted on 5/7/26 at 7:29 am
Hearing rumors Citgo (Sulphur) cutting some Operations and Salary positions. Any validity
4
Posted on 5/7/26 at 7:30 am to H2A2
Haven’t heard anything like that yet. If they do just go work for a contractor in the data center world
Posted on 5/7/26 at 7:35 am to H2A2
Thanks, Trump…drill baby drill…
Posted on 5/7/26 at 7:40 am to H2A2
I mean they’re being forced through the auction process but this isn’t new news. The auction was won by a private equity group but it’s still tied up in litigation. I’d imagine that the Venezuela situation hasn’t really hurried it along at all.
quote:
WASHINGTON, May 4 (Reuters) - The United States has extended a license that protects Venezuela-owned refiner Citgo Petroleum from creditors through June 19, ?according to a statement on the U.S. Treasury Department's website on Monday. The general license, issued by the Office of Foreign Assets Control, is meant to encourage investment and boost oil output in Venezuela. It also reinforces U.S. protection of Houston-based Citgo and its parent ?companies overseas, which are the crown jewels of Venezuela's foreign assets. Citgo is the eighth-largest U.S. refiner. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. The previous OFAC license, issued in March, had been set to expire May 5. Citgo is expected to be taken over by Amber Energy, an affiliate of hedge fund Elliott Investment Management, following a sale order by a Delaware judge late last year as part of the court-ordered auction of its parent, PDV Holding, to pay billions ?of ?dollars to Venezuelan-linked creditors. The auction's winner still needs OFAC to sign off and the protection license to be lifted for the judge's sale order to be fully executed. Amber officials late last month promised $11 billion in investments in Citgo Petroleum ?if OFAC releases the refiner to Amber, in an opinion column that appeared on the Wall Street Journal website. The investments include adding 125,000 barrels per day ?in crude oil refining capacity at the Corpus Christi, Texas, refinery. Washington has been easing sanctions on Venezuela since U.S. forces captured President Nicolas ?Maduro in January, with the U.S. government taking control of the OPEC country's oil sales proceeds through a fund. Reporting by Timothy Gardner, Daphne Psaledakis and Ismail Shakil; editing by Michelle Nichols and Alistair Bell
This post was edited on 5/7/26 at 7:44 am
Posted on 5/7/26 at 7:42 am to BabyTac
quote:I’ve met BabyTac in real life and can confirm he’s a c-suite executive in Austin. If it wasn’t for that, I’d be shitting on him.
Thanks, Trump…drill baby drill…
He also has a cute daughter.
Posted on 5/7/26 at 9:02 am to VooDude
hes still a fricking idiot.
Posted on 5/7/26 at 9:20 am to VooDude
quote:
in Austin
That’s all we needed to know.
Posted on 5/7/26 at 9:30 am to VooDude
quote:
he’s a c-suite executive in Austin.
Just means he's kissed enough arse to move up the ladder.
quote:
He also has a cute daughter.
Probably not his...he sat in the corner and watched.
Posted on 5/7/26 at 4:06 pm to VooDude
quote:
He also has a cute daughter.
Don’t tell mmmmBeer. Isn’t he the family creampie guy? Hopefully banned.
I’ve kept my identity very secret often posting things sending false smoke signals. Cheers….VooDude. Are you in the ATX?
Posted on 5/7/26 at 6:09 pm to BabyTac
quote:You’re a fricking hypocrite. You drive that GT3 Turbo S out of the corporate garage like you stole it. And you preach on here about financial modesty?
I’ve kept my identity very secret often posting things sending false smoke signals. Cheers….VooDude. Are you in the ATX?
Posted on 5/7/26 at 6:15 pm to BabyTac
quote:So you’re not T Swizzle’s b-i-l?
I’ve kept my identity very secret often posting things sending false smoke signals.
Posted on 5/7/26 at 6:50 pm to VooDude
quote:
You’re a fricking hypocrite
I’ve maybe posed as something else less and 5% on this site (porthudsonplaya) . Call me an idiot. I honestly can’t think of one time I’ve lied here. Yall just love to hate me because I’m honest and real.
Happy to do a BabyTac AMA. Don’t want to disrespect Chicken as he’s the boss here. I’m an open book, most spoiled Americans hate what I have to say.
This post was edited on 5/7/26 at 7:09 pm
Posted on 5/7/26 at 7:16 pm to BabyTac
quote:Well, what are you waiting for? Will be the best TD thread of all time.
Happy to do a BabyTac AMA.
Posted on 5/7/26 at 7:57 pm to VooDude
Chicken’s permission. Open to a video feed. He’s the boss. Happy to set it up and speak some truths. Don’t have much to say about Citgo.
FWIW I’m not a fame chaser or ‘following guy. I have zero social media outside of LinkedIn which I’m fairly inactive. I generate wealth the old fashioned way
FWIW I’m not a fame chaser or ‘following guy. I have zero social media outside of LinkedIn which I’m fairly inactive. I generate wealth the old fashioned way
This post was edited on 5/7/26 at 8:03 pm
Posted on 5/7/26 at 8:07 pm to VooDude
quote:
BabyTac
quote:
c-suite executive
Geezus
Posted on 5/7/26 at 8:09 pm to H2A2
No one on the hourly side is being layed off. Don’t know about salary side
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