HOUSTON REFINERY UPGRADE IS A FIRM DEAL

Lyondell Petrochemical Co., Houston, and Citgo Petroleum Co., Tulsa, have signed a final agreement calling for an $800 million upgrade of Lyondell's 265,000 b/d Houston refinery. The accord results in creation of a new company, Lyondell-Citgo Refining Co. Ltd., jointly owned by affiliates of Lyondell and Citgo (OGJ, May 17, p. 23). The latter is an indirect, wholly owned unit of Venezuela's state owned Petroleos de Venezuela SA. Also involved in the agreement is a long term, firm

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