By OGJ editors
HOUSTON, Aug. 13 -- Citgo Petroleum Corp., Tulsa, confirmed that a task force is considering whether to move the company headquarters to Houston as part of a new global vision for Petróleos de Venezuela SA (PDVSA).
Recently appointed Citgo Pres. and CEO Luis Marín commissioned the study following his relocation to Tulsa Aug. 1 (OGJ Online, July 23, 2003). Marin named Antonio Rivero, executive vice-president, to direct a task force examining the implications of such a move.
The study is expected to be completed by Dec. 31. PDVSA's new global vision includes consolidating all its international investments into one location, a news release said.
Citgo employs 1,000 people in Tulsa. The company has been at its existing location since 1983 when it was spun off from the former Cities Service Co., which was acquired by Occidental Petroleum Corp. in 1982
In an e-mail to employees Wednesday, Marin said, "I want you to know that this will be a business decision based on what is best for Citgo and our future growth. If the decision is made to relocate, you can be assured that your welfare will be the highest priority."
In addition to Citgo, Venezuela's various foreign investments include: PDV Services Inc., the procurement affiliate in Houston, Hovensa LLC., a joint venture in the Virgin Islands with Amerada Hess Corp., a Chalmette Refining LLC JV with ExxonMobil Corp. at the Chalmette, La., refinery, the Merey-Sweeny LP JV with ConocoPhillips in Sweeney, Tex., and PDVSA's European investments.
