October
23, 2003.
Citgo 2003 earnings at $600
Mln
(Petroleumworld.com) - U.S. CITGO refiner
oil company Vice President Antonio Rivero told
local newspaper El Nacional that Citgo will have
$600 million in earnings by the close of 2003.
Citgo is a wholy owned subsidiary and refining
and gasoline retailer arm of Venezuela's oil company
PDVSA.
Rivero also said to El Nacional that Citgo plans
to invest $10 million to expand its presence in
the lubricants market in Latin America and the
Caribbean and that thje company is reorganizing
to improve coordination between PDVSA and its
US subsidiary.
Citgo is a top refining and gasoline retailer
in the U.S. It has 859,000 barrels a day in refining
capacity.
