Citgo Petroleum Corp, the U.S. arm of Venezuela's state-run oil firm PDVSA,...
- Citgo Petroleum Corp, the U.S. arm of Venezuela’s state-run oil firm PDVSA, is moving toward appointing a new chief executive, with candidate names including former executives from PDVSA and other companies soon to be submitted to the board.
The eighth-largest U.S. refiner has since been run by Chairwoman Luisa Palacios and a group of senior U.S. and Venezuelan executives. Two current members of Citgo’s board, Luis Urdaneta and Edgar Rincon, also submitted applications, the sources said. The next chief will run an about $30 billion a year business that includes refineries in Texas, Louisiana and Illinois with combined crude processing capacity of up to 750,000 barrels per day. Citgo also operates an extensive pipeline network and markets products through about 5,300 U.S. retail outlets.
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