Daily Kos

View Story | 13 comments

  •  CITGO says THEY canceled, and 2 months ago (0+ / 0-)

    This story appears to be flat out wrong.  It was Venezuela / CITGO (PDVSA) which announced in a press conference in July that they would not be renewing a contract with 7-11 -- this according to CITGO president Felix Rodriguez.

    They feel that the whole association with the UN / Devil speech is an attempt to retroactively tar Venezuela once again.

    CITGO / PDVSA has had a strategy since late spring of re-evaluating a lot of their North American contracts because a lot of them were concluded by previous governments to unfairly give better terms to North American companies than would be given to any regular competitive provider.

    by el cid on Thu Sep 28, 2006 at 07:07:42 AM PDT

    •  Wow, it just gets sicker. (0+ / 0-)

      So now it seems like 7/11 is trying to spin losing the Citgo supplier by saying they cancelled the contract because Chavez called Bush the Devil. That is truly sick. Also par for the course.

      McCain is a Chode.

      by dnamj on Thu Sep 28, 2006 at 10:17:57 AM PDT

      [ Parent ]

    •  Change in Citgo Stragegy (0+ / 0-)

      Apparently, Citgo had announced a change in strategy a couple of months ago, deciding to curb the stations serviced, so as to only supply gasoline from Citgo refineries.

      ---------------------------------------------

      http://online.wsj.com/...

      Citgo Will Stop Selling Gas
      At Stations in Some States

      By STEVE LEVINE

      July 11, 2006 9:02 p.m.

      Citgo Petroleum Corp., the Venezuelan state-owned company, said it will stop selling gasoline to hundreds of stations in 14 states over the next year.

      The move stems from a decision by the Houston-based company, a subsidiary of state-owned Petroleos de Venezuela SA, to stop buying gasoline from other refiners to serve the 13,000 U.S. stations it services. Instead, the company will sell just the fuel produced from its three U.S. refineries, which together can process up to 750,000 barrels of crude oil a day.

      The decision affects more than 1,800 Citgo-branded gas stations, in addition to others that buy the company's products. All Citgo customers in 10 states will be affected, along with some cities in four other states.

      In a statement released after the close of business Monday, Citgo CEO Felix Rodriguez said the company's customers had until next March to find other suppliers.

      Mr. Rodriguez said the purchase of outside gasoline had the impact of "straining our resources and potentially compromising our ability to provide optimum service to our customers."

      more...

      ------------------------------------------

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project. http://www1.hamiltonproject.org/es/hamilton/hamilton_hp.htm

      by PatriciaVa on Thu Sep 28, 2006 at 04:05:17 PM PDT

      [ Parent ]

View Story | 13 comments