Citgo to stop selling gas at U.S. stations

[donsu]

http://www.businessweek.com/ap/financialnews/D8IQHGQ85.htm?campaign_id=rss_full_topix_bwdailysub=apn_home_up&chan=db


Venezuela-owned Citgo Petroleum Corp. has decided to stop selling gasoline at some 1,800 stations in the United States following calls by President Hugo Chavez to nix contracts that benefit U.S. consumers more than Venezuelans.

Citgo, which is wholly owned by Venezuela's state oil company, currently has to purchase 130,000 barrels a day from other refining companies to meet its service contracts at 13,100 stations across the U.S.

The Houston-based company has decided to sell only the 750,000 barrels a day that it produces at three U.S. refineries in Lake Charles, Louisiana, Corpus Christi, Texas, and Lemont, Illinois, according to a statement late Tuesday.

That will mean that over the next year Citgo will withdraw completely from 10 states and stop supplying some stations in four additional states, Citgo spokesman Fernando Garay said Wednesday.

Chavez has long claimed that parts of Citgo's business produce losses for Venezuela and constitute a subsidy for the U.S. economy.
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snip tells which states, etc.