HOUSTON --- CITGO Petroleum Corporation today denied media reports that it is planning the sale of its Corpus Christi, Texas refinery and its interest in the LYONDELL-CITGO refinery, located in Houston.
CITGO President and CEO Félix Rodríguez, when questioned about the issue earlier this week, denied that the company had any plans to sell the refineries or other U.S. assets. Rodríguez has repeatedly said that “As a normal corporate practice, the performance of all assets is evaluated continually and strategic decisions are made accordingly.”
Venezuelan Energy and Petroleum Minister Rafael Ramírez said this week that CITGO is a valuable contributor to its parent company, Petróleos de Venezuela, S.A., and consequently, no company assets are under review for a possible sale.
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.