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#3456485 - 08/15/14 03:06 PM Venezuela looking to sell off Citgo unit
Pajamarama Offline


Registered: 06/09/12
Posts: 504
Loc: Atlanta, GA
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
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#3456493 - 08/15/14 03:16 PM Re: Venezuela looking to sell off Citgo unit [Re: Pajamarama]
Bluestream Offline


Registered: 09/13/03
Posts: 5223
Loc: Waterloo, ON
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?
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#3456507 - 08/15/14 03:33 PM Re: Venezuela looking to sell off Citgo unit [Re: Pajamarama]
wemay Offline


Registered: 04/04/12
Posts: 5950
Loc: South Florida
Hopefully Shell, Mobil or Chevron
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#3456516 - 08/15/14 03:36 PM Re: Venezuela looking to sell off Citgo unit [Re: Pajamarama]
strat81 Offline


Registered: 01/09/10
Posts: 809
Loc: Nebraska
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.
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#3456749 - 08/15/14 08:06 PM Re: Venezuela looking to sell off Citgo unit [Re: Pajamarama]
Vern_in_IL Offline


Registered: 06/25/14
Posts: 1107
Loc: 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.
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#3464440 - 08/25/14 12:49 PM Re: Venezuela looking to sell off Citgo unit [Re: Vern_in_IL]
typ901 Offline


Registered: 07/13/08
Posts: 808
Loc: N. 'Burbs of Chicago, IL
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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#3468349 - 08/29/14 12:20 PM Re: Venezuela looking to sell off Citgo unit [Re: Pajamarama]
Tempest Offline


Registered: 03/21/06
Posts: 10559
Loc: Las Vegas NV


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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