Citgo Petroleum Corporate Ethics and Social Responsibility

Citgo Petroleum Refineries

Defining Corporate Ethics and Social Responsibility

Virginia S. Townzen
Columbia Southern University
Introduction to Business (BBA 2010)
Professor Robert Freeland
June 15, 2021
Citgo Petroleum Corporate Ethics and Social Responsibility

Citgo Petroleum Refineries

Defining Corporate Ethics and Social Responsibility

Introductory

This essay will address Citgo Petroleum Corporation and how they impact the
environment and their overall corporate responsibility.
Businesses play a vital role in our society, today. In recent years, growing concern of the
environment and criticism of businesses have pressured large organizations to take responsibility
for their actions. The need for greater corporate social responsibility has increased dramatically,
due to a rising concerns for environmental protection, natural resources diminishing, and social
issue development.
Our story begins on September 2, 1910, with an American businessman named, Henry L.
Doherty. He founded a utility service provider for cities located in the Midwest of the U.S. He
named it the “Cities Service Company”. Then in 1965, the now familiar “Citgo” brand name and
tri-mark logo were created. The “GO” in CITGO implies power, energy, and progressiveness.
Presently, Citgo Petroleum Corporation is the fifth largest independent refinery in the U.S. Citgo
has cultivated over 110-year legacy for blending business with a purpose. It is what differentiates
Citgo from the competition in the industry.
Citgo has expanded greatly over the past century, they consist of three separate refineries:

The year 2019, was a game changer for us at Citgo Petroleum Corp. A new board of
directors for Citgo, has been appointed. They have outlined their three main objectives for the
company: improving financial and operational stability; protecting the assets; and enhancing
corporate governance. In August 2019, they conducted a thorough, extensive, and competitive
search process, after they reviewed candidates, they appointed a new CEO for Citgo. After six
months, the board of directors of Citgo, are pleased to report significant progress on top of goals.
Citgo Petroleum Corporate Ethics and Social Responsibility

Citgo Petroleum Corporation moto “Fueling Good” can be seen in all aspects of the Citgo
brand. The philosophy of it, is those who are doing good in the Citgo Community Footprint
should be recognized and rewarded. Year after year they demonstrate their core values and
receive industry recognition and awards, such as: Safety and Environmental Performances,
Coastal Area Clean-up and Restoration, and Large-scale Recycling Events. Living by our values
and supporting local communities is what we call “Good Fueling”.

Conclusion
Everything we do at Citgo is guided by our core values of environmental stewardship,
integrity, respect, fairness, social responsibility, operational availability, and competitiveness.

References:

Investopedia
https://www.investopedia.com/terms/c/code-of-ethics.asp
Citgo Petroleum Corporate Ethics and Social Responsibility