'I believe there are some
(assets) that are not beneficial, not
only at Citgo but also in Europe', said
Ramírez, according to a transcript
of the interview with local television
station Channel 10.
Ramírez, who is
also Venezuela's oil minister, didn't
specify which foreign assets the company
might sell. Late last year, PDVSA announced
intentions to sell its 50% stake in
the Ruhr Oel Gmbh refinery in Germany
to Russia's Alfa group, but the deal
has been put off reportedly because
of objections from BP PLC (BP), PDVSA's
partner in the refinery.
Concerning Citgo, PdVSA's
fully owned refining and gasoline distribution
network in the U.S., Ramírez
said 'some of the businesses are better
than others', adding that parts of the
company could be sold.
In recent years,
Citgo has been rumored to be looking
to sell its Lemont refinery in Illinois.
Citgo has 859,000 barrels per day in
refining capacity and markets more than
600 types of lubricants and waxes".
