July 24 Venezuela's state-run oil company
Petroleos de Venezuela SA (PDVSA) is considering
offers to buy its U.S. downstream subsidiary Citgo, industry
research group Argus Media reported on its website on Thursday.
The government has received three separate offers to buy
Citgo submitted through Goldman Sachs, JP Morgan and Deutsche
Bank, Argus said citing energy ministry officials.
"The offers are in the range of $10bn to $15bn for the Citgo
assets, including three U.S. refineries with a combined
nameplate crude processing capacity of 757,000 barrel per day
(bpd), 48 products storage facilities, three wholly owned Citgo
pipelines and stakes in six other U.S. pipelines."
PDV America, Inc., an indirect, wholly owned subsidiary of
PDVSA, owns the 427,800 bpd Lake Charles refinery in Louisiana,
the 163,000 bpd Corpus Christi refinery in Texas, and the
172,045 bpd Lemont refinery in Illinois.
Citgo has long been a key cash-paying client of PDVSA, whose
debt payments to China are made in crude and do not generate
(Reporting by Anupam Chatterjee in Bangalore; Editing by