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2014-08-06 17:50:00

VENEZUELA WANTS $10 BLN

VENEZUELA WANTS $10 BLN

Petroleos de Venezuela SA, the Latin American nation's state-owned crude producer, said the U.S. oil refining and marketing assets it's seeking to sell are worth more than $10 billion.

"Their value is much, much more," Rafael Ramirez, president of the oil producer known as PDVSA, told reporters yesterday. The company is receiving offers for assets of Houston-based Citgo Petroleum Corp., he said, without providing details of the value of the bids received.

PDVSA is seeking to sell Citgo assets, the U.S. unit said in a July 29 bond prospectus document. The company owns three refineries capable of handling about…

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Tags: VENEZUELA, OIL, PDVSA, CHINA
Chronicle:
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