March 31, 2005
Venezuela seeks partners for reshaping Citgo (Platts) - "President Hugo Chávez said Venezuela is seeking foreign partners to help reshape its US downstream business Citgo Petroleum, but stopped short of saying the company or any part of it would be sold. 'What we are doing is suggesting the reformation of the business and we are looking for partners to accompany us,' Chávez told reporters at a news conference.
'So far we have conversed with a few companies from different countries and we are in preliminary talks.' Chávez did not specify which companies were involved, but local press reports have mentioned Brazil's Petrobras and Russia's Lukoil as frontrunners in the race to collaborate with state oil company PDVSA on Citgo (...)".
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