The American Companies That Aren’t Actually American Anymore

Citgo

Citgo was founded by Henry Latham Doherty in Bartlesville, Oklahoma, in 1910. Citgo ended up becoming one of the top oil distributors in America and was even known for refining fuel as well. Everything was going well for Citgo until the 1980s came around

Since Citgo was in a financial crisis, Venezuelan company Petroleos de Venezuela purchased 50 percent of the company in 1986. The headquarters of Citgo is still in Houston, Texas but heavily depends on its Venezuelan partners. There are still a number of Citgo gas stations in America, but the future is uncertain for this company.