CITGO to Provide Record Dividend to Parent

[Judi Lynn]

CITGO to Provide Record Dividend to Parent

HOUSTON, May 15, 2013 /PRNewswire/ -- CITGO Petroleum Corporation, an indirect wholly owned subsidiary of Petroleos de Venezuela, S. A. (PDVSA), has declared a $461 million dividend to its parent for the first quarter of 2013.

The amount, to be paid on May 20, is a record for a single quarter since 2009.

"The payment of this dividend reflects the strength of our operations and our continued alignment with our parent company," said Alejandro Granado , chairman, president and CEO of CITGO. "We have achieved a strong financial performance without sacrificing what really matters, remaining focused on leading the refining industry for safe operations and continuing our commitment to environmental stewardship and social responsibility," he added.

CITGO, based in Houston, is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals, refined waxes, asphalt and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petroleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela.

http://www.prnewswire.com/news-releases/citgo-to-provide-record-dividend-to-parent-207622111.html

(Short article, no more at link.)

[Bacchus4.0]

1. that should buy alot of TP n/t

s