November
18, 2003
PDVSA
will attack the market with more petrol stations
(El Universal) - "(…) Citgo Corporation
(100% subsidiary of Petróleos de Venezuela),
continues its plan to expand operations in Latin
America through Citgo International Latin America
(CILA).
After gathering 11% of the refinery
market, 11.1% of gas commercialisation with 13.800
petrol stations and 5.7% of the lubricant segment
in the United States, Citgo has destined 44 million
dollars since year 2000 to its subsidiary CILA,
that now has its Head Quarters in Tulsa.
Antonio Rivero, Executive Vice President of Citgo
and President of CILA, said that the most attractive
markets where Citgo already has negotiations in
progress are Guatemala, where there are 52 stations
in process to open, Puerto Rico, that has 72 operating
stations and 120 planned for 2004; Dominican Republic,
Ecuador, Brazil, Chile, Argentina, Mexico and
Panama are being evaluated because there are plans
to reach agreements that will reduce the shipment
costs for refined and petrochemical products.
Rivero revealed that petrol
stations that will operate in those countries
will not be commercialised under the Citgo brand
(…) ".
