CITGO'S PROFIT OUTLOOK TOPS ITS OWN SALE PRICE

Citgo Petroleum raised its 2026 EBITDA forecast to a range of $7.7 billion to $8 billion, citing stronger U.S. refined product margins. That full-year number already exceeds the $5.9 billion all-cash bid Amber Energy placed for Citgo's parent, PDV Holding, in a court-supervised sale tied to Venezuela's foreign claims. The refiner booked $4.5 billion to $4.8 billion in EBITDA over the first nine months of the year, so the fourth quarter alone needs to add close to $3 billion to hit the new target. Energy investors watching $XLE now have a refiner whose one-year earnings outlook tops the price its own parent company fetched at auction. The gap is reopening the debate in Caracas over whether Venezuela gave away its biggest foreign asset too cheap.