[StBernard] Chalmette Refinery Possibly For Sale

[Westley Annis]

PDVSA may sell stakes in two U.S. refineries
Tue Apr 17, 2007 4:54PM EDT
PORLAMAR, Venezuela, April 17 (Reuters) - Venezuela is studying the
possibility of selling its shareholdings in two U.S. refineries, Oil
Minister Rafael Ramirez said on Tuesday.

The OPEC nation has not made a final decision on a possible sale of the
stakes in the Chalmette, Louisiana refinery and a delayed coking unit at the
Sweeny, Texas refinery, the minister added.

"This is an idea that we continue to study, buy there is no decision yet,"
Ramirez told reporters at an energy summit.

Venezuelan state oil firm PDVSA is partnered with U.S. oil major Exxon Mobil
(XOM.N: Quote, Profile, Research) in the Chalmette plant and with
ConocoPhillips (COP.N: Quote, Profile, Research) in the Sweeny coker
project.

PDVSA, through its U.S. refining branch Citgo, is already in talks to sell
some of its asphalt plants and last year sold its interest in a Houston
refinery to partner Lyondell Chemical (LYO.N: Quote, Profile, Research).

Venezuela, one of the top oil exporting nations to the United States, has
moved to expand its crude and product sales beyond the U.S. market under
left-wing President Hugo Chavez.