JULY 13, 2006 - Posted at 8:09 a.m. CDT
CARACAS, VENEZUELA - Venezuela-owned Citgo Petroleum has decided to stop distributing gasoline to some 1,800 U.S. stations, including some in Arkansas. Citgo is shedding a lackluster segment of its business.
Citgo currently has to purchase 130,000 barrels per day from third parties in order to meet its service contracts.
Instead, the Houston-based company has decided to sell to retailers only the 750,000 barrels per day that it produces at three U.S. refineries.
Those are in Corpus Christi, Texas; Lake Charles, Louisiana; and Lemont, Illinois.
The states where Citgo will definitely stop selling gasoline are Iowa, Kansas, Kentucky, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Oklahoma and South Dakota.
A limited number of stations in Arkansas, Illinois, Iowa and Texas will also be affected.
Ann Hines, executive vice president for the Arkansas Oil Marketers Association, says the Texarkana area will be affected by the change. Citgo stations in other areas of the state should not be affected.