Venezuela looking to sell off Citgo unit

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Not sure anyone will see this in this subforum, but I know there's been a lot of anti-Citgo sentiment expressed here on BITOG. If Venezuela offloads Citgo, it will be interesting to see who picks it up.

Story in NY Times
 
Originally Posted By: Pajamarama
Not sure anyone will see this in this subforum, but I know there's been a lot of anti-Citgo sentiment expressed here on BITOG. If Venezuela offloads Citgo, it will be interesting to see who picks it up.

Story in NY Times


Maybe Iran?
 
From the article:
Venezuela’s state-owned oil company PDVSA has a different motive. Mr. Maduro’s administration is running out of cash. That’s the result of anti-business policies — including price controls and nationalization — that have depressed local production and increased reliance on imports.



I am shocked by this news.
 
I am not a fan of Citgo! I don't care about the politics, the owners, but I care about the product.

I find nothing special about Citgo products.

All the Citgo's around here only sell this:

K1
89 E10
87 E10 *with tri-clean
87 100% Gasoline ($.40 per gallon higher than E10)
Low Sulfur Diesel.
**BEFORE 2007 they sold "racing gas"
**E85 at some stations.

The local station was still using analog pumps just two years ago or so.
They upgraded the fuel islands when the TriClean came on market.

I really don't use their fuel.
 
Originally Posted By: Vern_in_IL
I am not a fan of Citgo! I don't care about the politics, the owners, but I care about the product.

I find nothing special about Citgo products.

All the Citgo's around here only sell this:

K1
89 E10
87 E10 *with tri-clean
87 100% Gasoline ($.40 per gallon higher than E10)
Low Sulfur Diesel.
**BEFORE 2007 they sold "racing gas"
**E85 at some stations.

The local station was still using analog pumps just two years ago or so.
They upgraded the fuel islands when the TriClean came on market.

I really don't use their fuel.


Vern,

I'm guessing you are downstate? In N-Burbs of Chicago, one of the Citgo's still has racing gas , and has 87-89-93. Not certain about E85.

Oh and digital pumps for years.
 
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Domestic oil production has plummeted since the nationalization occurred. Combine this with 60% inflation...and it looks like their centrally planned economy is in a tale spin....
 
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