Nelson P. Martinez Appointed President and CEO of CITGO, and Chairman and Member of the Board of Directors

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Jun 14, 2013, 05:02 ET

HOUSTON, June 14, 2013 /PRNewswire/ -- CITGO Petroleum Corporation announced today that Dr. Nelson P. Martinez has assumed the position of president and CEO. Additionally, Martinez had been appointed as chairman and member of the board of directors on May 23, 2013. These positions had previously been held by Alejandro Granado.

In his new role, Martinez will oversee all aspects of the operations of one of the largest refiners in the United States with an aggregate crude oil refining capacity of 749,000-bpd and a network of 48 owned or jointly owned petroleum terminals. CITGO sold a total 14.7 billion gallons of refined products in 2012 and has a network of nearly 6,000 branded retail outlets.

Martinez brings more than 30 years of experience in the energy industry to his new role, including broad international experience, in-depth knowledge of the refining industry and a strong scientific, innovative and dynamic background.

"I look forward to building upon the success of the company, furthering our vision to remain a world benchmark corporation by continuing to deliver top-quality products to our customers while maintaining a strong commitment to the environment and the communities where we have a presence and beyond," Martinez said.

Before being appointed chairman and member of the board of directors, and president and CEO of CITGO, Martinez served as the managing internal director for Petroleos de Venezuela, S.A. (PDVSA). He has held a variety of other positions within PDVSA, including head of the catalysis section in the research and development center; manager for the processes development department; leader of the technology management corporate group; deputy manager of the refining and petrochemicals general division; manager of new business development; managing director of refining for PDVSA Oriente; and most recently, executive director for PDVSA America and managing director for PDVSA Argentina.

"CITGO is well positioned to continue to be a leader in the refining industry and to continue the social responsibility investments for which it is known," said Martinez. "I am proud to continue the legacy and be a part of that."

Martinez earned a bachelor's degree in chemistry and a master's degree in physical chemistry from France's University of Poitiers. He also holds a doctorate in Chemistry from the University of Reading in the United Kingdom and a master's degree in Technology Management from the Massachusetts Institute of Technology (MIT). In addition, he studied management at Michigan University, Harvard University and at the non-profit research institute, SRI International, in California. Martinez also holds more than 50 international patents and papers and was elected to the New York Academy of Sciences for his contributions to the study of catalysts in hydro-treatment and catalytic cracking.

CITGO, based in Houston, is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals, refined waxes, asphalt and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petroleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela. For more information visit www.citgo.com.

SOURCE CITGO Petroleum Corporation