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Venezuela's Citgo plans no further refinery sales in 2007
AP
CARACAS
Petroleumworld.com 12 27 06
The head of Venezuela-owned Citgo Petroleum says the company plans no further sales of refineries or other major assets next year, according to a media report.However, Citgo President Felix Rodriguez tells Venezuela's online Panorama newspaper that Citgo would continue to review the profitability of its asphalt-producing business.
Houston-based Citgo is wholly owned by Venezuela's state oil company. It sold its minority share in a Houston-area refinery to Lyondell Chemical for two-point-one (B) billion dollars earlier this year. Citgo still owns and operates a refinery in Corpus Christi, Texas.
Rodriguez also spoke of Citgo's program that offers discounted heating oil to low-income U-S households. He says the company supplied 378 (M) million liters of fuel at a 40 percent discount this year. He says that's helped two-point-two (M) million Americans in 16 states.
AP 26 12 06
Copyright© 2006 Associated Press. All Rights Reserved.
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