CITGO Timeline - The 1980s

CITGO Petroleum Corporation Created

1980	Ronald Reagan defeats incumbent Jimmy Carter for President.
1980	Charles J. Waidelich becomes Chief Executive Officer; Robert Sellers remains Chairman of Cities Service.
1980	Cities Service reports record profits.
1981	The United States introduces the first reusable spacecraft when it launches Columbia, the first in a series of space shuttles.
1981	T Boone Pickens' Mesa Petroleum launches bid to take over Cities Service-a few months later, Canadian company Nu-West launches takeover attempt; merger attempt with Conoco falls through.
1982	First artificial heart implanted.
1982	Takeover battle with Mesa Petroleum continues; merger attempt with Gulf Oil Corporation fails. Occidental Petroleum purchases Cities Service.
1982	MTV makes its first debut on cable television.
1983	CITGO Petroleum Corporation created as standalone refining, marketing and transportation company registered in the state of Delaware; purchased by the Southland Company, operators of the 7-Eleven chain of convenience stores.
1983	Sam Susser named President of CITGO Petroleum Corporation.
1983	U.S. invades Grenada.
1984	Desmond Tutu wins Nobel Peace Prize.
1984	Lake Charles Refinery cuts runs to half its capacity due to poor company financial performance.
1984	Stephen Spielberg produces Indiana Jones and the Temple of Doom.
1985	Veteran oil man Ronald E. Hall joins CITGO as President and CEO; intensive business review concludes CITGO is worth saving.
1985	First long term crude contracts signed with Petróleos de Venezuela, S.A. (PDVSA).
1985	Pete Rose breaks Ty Cobb's career base hits record.
1986	Petróleos de Venezuela, S.A. (PDVSA), the national oil company of Venezuela, buys 50 percent of CITGO from Southland.
1986	First CITGO Presidents Meeting held with the theme: "Come on Along."
1986	CITGO enters NASCAR racing with sponsorship of the Wood Brothers No. 21 car.
1986	CITGO begins its long-term relationship with the Muscular Dystrophy Association (MDA), donating $750,000.
1986	Space shuttle Challenger explodes, killing all aboard.
1987	CITGO refineries receive more than half of their feedstocks from PDVSA.
1987	CITGO more than doubles its marketing presence over 1985; wholesale branded gasoline sales increase more than 22 percent.
1987	Chrysler launched the Chrysler New Yorker and Dodge Dynasty, so conservatively styled that Car and Driver Magazine described them as "flying bricks."
1988	George Herbert Walker Bush defeats Michael Dukakis for the presidency.
1988	CITGO's branded gasoline sales volumes increase 24 percent over 1988; CITGO branded outlets increase to nearly 7,700, a 22 percent increase over the previous year.
1988	The employee volunteer community service group "Team CITGO" is formed at Lake Charles.
1989	Berlin Wall falls.
1989	Branded CITGO outlets increased to 8,463.
1989	CITGO lubricants receive Ford's prestigious Q-1 Preferred Quality Award.
1989	CITGO employees and Marketers raise a record $1.25 million for MDA