Venezuela's CITGO to Provide Cheap Gas for US Hospitals, Nursing Homes and

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http://www.venezuelanalysis.com/news.php?newsno=1738

More details provided on Chavez's offer to help U.S. poor

Venezuela's CITGO to Provide Cheap Gas for U.S. Hospitals, Nursing Homes and Schools

Caracas, Venezuela. August 28, 2005 (VenezuelAnalysis.com).- Rafael Ramirez, president of Venezuela's oil company PDVSA, offered some details of Venezuelan President Hugo Chavez's offer to provide cheaper gasoline and heating oil to U.S. poor communities.

Speaking shortly after a press conference held by President Chavez and U.S. Reverend Jesse Jackson, Ramirez said that CITGO Petroleum Corp., the wholly owned subsidiary of PDVSA, is currently refining up to 664.000 barrels of oil through the refineries it owns and operates in the United States.

Venezuela is the world's fifth largest oil exporter and the fourth largest supplier of oil to the United States. Venezuelan oil accounted for 12% of U.S. oil imports.

Ramirez said that under the Venezuelan government plan, CITGO will set aside up to 10% of its refined oil products to be sold directly to organized poor communities, and institutions in the U.S. without intermediaries.

The plan calls for the sale of heating oil and gasoline to hospitals, nursing homes, schools and organized poor communities in U.S. soil, according to Ramirez.