Lyondell matches bid, taking control

Robinson, Simon
August 2006
ICIS Chemical Business;8/28/2006, Vol. 1 Issue 32, p14
Trade Publication
The article reports on the acquisition of the 41.25 % stake of Citgo Petroleum in the Lyondell-Citgo Refining facility in Houston, Texas by Lyondell Chemical. A 25-year contract of Citgo's parent company Petróleos de Venezuela for the supply of crude oil to the refinery was changed to 230,000 barrel per day in a five-year contract based on market prices. Lyondell president and CEO Dan Smith comments on the acquisition.


Related Articles

  • Lyondell-Citgo could fetch well over $3 billion in sale. Chang, Joseph; Balboa, Brian // Chemical Market Reporter;4/10/2006, Vol. 269 Issue 14, p6 

    The article reports on the agreement between Lyondell Chemical Co. and Citgo Petroleum Corp. to explore the sale of their 268,000 barrel-per-day refinery in Houston, Texas. It is estimated that the proceeds from the planned sale could be between three to five billion dollars. Analysts says that...

  • LYONDELL ACQUIRES PARTNER'S INTEREST IN HOUSTON REFINERY.  // Worldwide Energy;Oct2006, Vol. 17 Issue 10, p5 

    The article reports on the acquisition of 41.25 percent ownership interest of CITGO in Lyondell-Citgo Refining LP by Lyondell Chemical Co. in a transaction worth about $2.1 billion which also includes a portion of refinery's debt of CITGO. The proceeds of a seven-year Lyondell term loan has...

  • LCR auction called off. Robinson, Simon // ICIS Chemical Business;7/31/2006, Vol. 1 Issue 30, p14 

    The article reports on the cancellation of the auction for the refinery joint venture of Lyondell Chemical and Citgo Petroleum. According to Lyondell, offers for the venture exceeded $5 billion but were insufficient to overcome the significant benefit of retaining an ownership position in the...

  • CITGO sells stake in Lyondell refinery.  // National Petroleum News;Oct2006, Vol. 98 Issue 11, p12 

    The article reports CITGO Petroleum Corp. would sell its stake at Lyondell Chemical Co. refinery in Houston, Texas. Venezuelan Oil Minister Rafael Ramirez said that the state-run oil company that controls CITGO, would sell its 41.25 percent stake in the refinery for $2.2 billion. Moreover,...

  • CITGO opens ultra-low sulfur diesel unit at Lemont refinery to meet new regulations.  // National Petroleum News;Oct2010, Vol. 102 Issue 8, p6 

    The article reports that CITGO Petroleum Corp. has opened its ultra-low sulfur diesel (ULSD) processing refinery unit at Lemont, Illinois to comply with the standards set by the U.S. Environmental Protection Agency (EPA).

  • Citgo confirms Lemont refinery start-ups.  // National Petroleum News;Nov2001, Vol. 93 Issue 12, p11 

    Reports the confirmation of Citgo Petroleum Corp. of restarting its crude units at the PDV Midwest Refining LLC in Lemont, Illinois. Importance of the crude unit in refinery operations; Devising of ways for operating process units; Conformation of the operations to safety and environmental...

  • CITGO signs letter of intent to operate Coastal refinery.  // National Petroleum News;May2000, Vol. 92 Issue 5, p14 

    Reports on CITGO Petroleum Corp.'s deal with Coastal Corp. to enable CITGO to operate Coastal's oil refinery in Corpus Christi, Texas. Benefits expected by both companies from the agreement; Combined capacity of the companies' oil refineries.

  • Citgo weathers Venezuelan storm. Reid, Keith // National Petroleum News;Aug2003, Vol. 95 Issue 9, p14 

    Reports on the effects of the oil strike on the market performance of Citgo Petroleum Corp. in Venezuela. Reason for the strike; Commitment on upgrading its refineries; Market initiatives covered by the company.

  • Lake Charles Refinery now nation's fourth-largest.  // National Petroleum News;Jun2005, Vol. 97 Issue 6, p14 

    This article reports that with an additional 105,000 barrels-per-day of crude processing capacity now online, Houston, Texas-based CITGO Petroleum Corp.'s Lake Charles, Louisiana Manufacturing Complex is now the fourth largest refinery in the United States. The $293-million Crude Vacuum...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics