September 19, 2008

Citgo Requests Emergency Oil Volumes for Lake Charles Refinery

Houston-based fuel retailer Citgo Petroleum, a subsidiary of Venezuelan state-run oil company PDVSA, has confirmed a formal request of one million barrels of crude oil from the US Strategic Oil Reserve for its Lake Charles refinery in Louisiana, in an effort to mitigate the potential deficit of fuel in the US market.

Citgo has said that fuel supply to the US has been substantially affected by hurricanes Ike and Gustav in the Gulf of Mexico, resulting in the shutdown of the Sabine Pass and Calcasieu Ship Channel navigation routes, adversely affecting oil shipments.

Alejandro Granado, chairman of Citgo, said: "Citgo strictly adheres to its emergency and steady business plans, running its operations in a reliable way. We are lucky to have been able to keep our operations almost regularly during hurricanes Gustav and Ike, helping to ensure a steady supply of fuel to US consumers."