CITGO releases 2007 Annual Report with Record Breaking Financial Results
Apr 29, 2008
“These results strengthened our position as a key player in the
“While consolidating our strong position in the
In terms of CITGO’s safety performance during 2007, company employees and contractors were again leaders in this area with incident rates well below industry averages. CITGO also set a new record for the fewest environmental exceedences in the company’s history. This is the fifth record in a row, further demonstrating the company’s commitment to environmental stewardship.
Excluding gain on the sale of assets, CITGO’s 2007 operating income was approximately $1.7 billion (USD) — a historic record for the company. This figure represents an increase of 15 percent from 2006. Meanwhile, 2007 net income exceeded $1 billion. This represents an increase of 24 percent over 2006. In 2007, CITGO paid dividends of $863 million, yet another new record. This represents an increase of 8 percent from 2006.
“Our commitment to providing products and technology that can improve our quality of life and our commitment to social development and environmental responsibility demonstrate that at CITGO we are much more than just energy,” Granado concluded.
To view the report, click on: http://www.citgo.com/WebOther/AboutCITGO/2007AnnualReport.pdf
CITGO, based in
For more information visit www.citgo.com