HOUSTON --- CITGO Petroleum Corporation is scheduled to receive a shipment of 240,000 barrels of gasoline at the Port of Houston from Venezuela on Monday. Parent company Petróleos de Venezuela, S.A. (PDVSA) is sending the shipment as part of its pledge of one million barrels of gasoline to help alleviate fuel shortages in the aftermath of hurricanes Katrina and Rita.
“We are doing our utmost to keep supplies to the market and fight any price speculation,” said Felix Rodríguez, CITGO President and C.E.O.
“Our Lake Charles Manufacturing Complex suffered some damage from Hurricane Rita. The extent of that damage is still being assessed, but that makes the contributions of our Corpus Christi, Texas and Lemont, Illinois refineries all the more important as we do everything we can to prevent product shortages from becoming any more acute,” he added.
The gasoline will be distributed through the Eagle and Colonial Pipeline Systems, which serve Texas and the Southeast region of the United States.
PDVSA will continue to offer its support to CITGO in order to maintain supplies to the U.S. marketplace and avoid an escalation in prices.
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 Petróleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela.