CITGO Not For Sale
Jan 2, 2003
CITGO Not For
TULSA, Okla., January 2, 2003 -- Contrary to several recent news reports, Dr. Alí Rodríguez Araque, the President of Petróleos de Venezuela, S. A., (PDVSA), the national oil company of Venezuela, stated today that PDVSA has no plans to sell or otherwise dispose of CITGO Petroleum Corporation or any of its assets. “CITGO is not for sale,” said Rodríguez.
CITGO owns and operates two gulf coast refineries that rely on
“During the month of December, CITGO successfully replaced the partial loss of Venezuelan crude with purchases of spot cargoes on the open market, enabling the refineries to run at full capacity,” stated Oswaldo Contreras, CITGO’s President and CEO.
“We are exceptionally proud of the fact that we have continued to run our refineries at optimal, economical rates and that we are able to meet our contractual commitments to our customers,” said Contreras. “This is a tribute to our employees and their spirit of creativity and innovation. As a result, the more than 13,400 CITGO-branded retail outlets across the United States are providing consumers with motor fuels and other products when they want them and where they need them,” he concluded.
CITGO Petroleum Corporation, based in
For more information on CITGO, visit .