HOUSTON, Aug 14 (Reuters) - Venezuela-owned U.S. refiner

Citgo Petroleum registered net income of $100 million in the

second quarter versus a $25 million loss in the same quarter

last year, finishing the period with liquidity of $2.6 billion,

it said on Thursday.

The Houston-based refiner had recorded losses in two

consecutive quarters of loss amid weak margins before its

second-quarter results.

Its parent company PDV Holding

is being auctioned

by a U.S. court to pay creditors for past debt defaults and

expropriations in Venezuela.

Between April and June, the seventh-largest U.S. refiner

increased its total processing to an average of 858,000 barrels

per day from 833,000 bpd in the first quarter, registering a

crude utilization rate of 101%.

"Reliable operations in a more supportive market

environment" led to a stronger second quarter, the company said

in a release.

In the second half of the year, Citgo plans to advance

key projects, but it rescheduled some turnaround activities at

its Lemont, Illinois and Lake Charles, Louisiana refineries to

next year, it added.

As a consequence, projected turnaround, catalyst and

capital expenditures for this year were reduced from

approximately $960 million to some $696 million.

Citgo's marketing sales volume was 431,000 bpd in the

quarter, up slightly from the previous period.