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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (87143)	7/4/2007 2:52:06 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 206323

Venezuela is well positioned to supply Iran with gasoline and other refined oil products. Venezuela reports that Iranian oil workers are now employed in Venezuela and Venezuelan oil workers are now being trained in Iran. Even if the only legal sourcing point for gasoline to Iran is from Venezuela, the shipping costs per gallon are very modest - less than one cent per gallon. PDVSA (Petróleos de Venezuela S.A.) has a petroleum processing capacity of 3.285 million barrels a day (1.285 million barrels a day in Venezuela and 2 million barrels a day outside the country) through 24 refineries: six complexes in Venezuela, one in the Caribbean, eight in the United States and nine in Europe. (see list below) This refining capacity actually exceeds their own production of oil, last reported in 2004 at 2.1 million barrels. In the USA PDVSA operates under the CITGO name, originally formed by City Services and later purchased by PDVSA from the parent company of 7-11 stores. Iran and Venezuela have also announced they are beginning construction of methanol plants in Iran and Venezuela. news.chemnet.com Citgo Petroleum Corporation, USA - Citgo is 100% owned by PDVSA. PDVSA owned and operated refineries: Ruhr Oel, Germany - PDVSA holds 50% of Ruhr Oel, the other half belonging to BP's German unit Veba Oel. Nynas Petroleum, Sweden - PDVSA owns a 50% stake in Nynas, with Finland's Neste Oil Oyj holding the other 50%. Bahamas Oil Refining Company (BORCO), Bahamas - PDVSA is the sole owner of this oil storage terminal in the Caribbean. Hovensa LLC refinery, US Virgin Islands - Hovensa is jointly owned by PDVSA and Hess Oil Virgin Islands Corp. Isla refinery, Curacao - PDVSA leases the Isla refinery in the Netherlands Antilles. .