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April 26, 2004
Citgo moving to Houston
Citgo Petroleum Corporation. is expected to announce today that it plans to relocate its headquarters from Tulsa, Oklahoma to Houston. In addition to the economies of being located among Houston's many major energy companies, the move makes sense because most of Citgo's vendors, and the customers of Citgo's parent -- Petroleos de Venezuela SA -- are located in Houston. Update: Here is the Chronicle story on the move.
Citgo is the nation's fourth-largest retailer of gasoline, with 13,500 outlets. It also operates three oil refineries in the United States and owns a 42 percent interest in another refinery in Houston. The company will move approximately 700 jobs to Houston, leaving about 300 in Tulsa. As an inducement to make the move, Citgo will receive a $5 million grant from the state of Texas and $30 million in low-interest loans from the cities of Houston and Corpus Christi, where Citgo operates a major refinery.
Posted by Tom at April 26, 2004 3:32 PM |
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