CITGO Requests SPR Loan
Jun 27, 2006
HOUSTON --- CITGO Petroleum Corporation today received approval for a small loan of 250,000 barrels of crude oil from the Strategic Petroleum Reserve. The loan would help maintain production rates at the company’s Lake Charles Manufacturing Complex while the Calcasieu Ship Channel remains closed.
The 425,000 barrel-per-day refinery has been producing at slightly reduced rates in response to the closure of the channel last week.
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.
For more information visit www.citgo.com.