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Citgo to run Chalmette Refinery
HOUSTON
Petroleumworld.com, May 9, 2008
Venezuela's subsidiary US Citgo Corp.will become the operator of the Exxon- PDVSA U.S. refinery in Chalmette, La., a Venezuelan official said Thursday, according to Dow Jones."Citgo is an option" to become a new operator, Eulogio Del Pino, a board member for PDVSA and an president of PDVSA CPV subsidiary, told reporters on the sidelines of the first meeting of the South American Energy Council in Caracas, reported Dow Jones.
The Chalmette refinery is 50-50 joint venture by PDVSA and ExxonMobil The refinery process extra heavy oil crude from the venezuela's Orinoco project "Cerro Negro" , the partners are currently negotiating what to do with the refinery following an arbitration process between the two partners on the issue of the nationalization of Cerro Negro by the venezuelan government without the due compensation
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