KevO wrote: HOUSTON, Jan 17 (Reuters) - Citgo Petroleum Corp cut more than 500 contract maintenance workers in late December at its Louisiana refinery as part of a program to increase returns to corporate parent Venezuelan state oil company PDVSA, according to sources familiar with the company's refinery operations.
Between 500 and 700 contractors were let go at the 430,000-barrel-per-day (bpd) Lake Charles plant, which the U.S. government lists as the nation's third largest, the sources said. A Citgo spokesman declined to discuss operations at the Lake Charles refinery.
more at
Reuters
Interesting find, this one.
From that link, the blame for it was the maximun return of revenues back to its mother company. Also, they mention the $1,000,000,000,000.oo they had to borrow off BECAUSE of the newly acqired investments/
responsabilities by PDVSA.
Hey guys ....... I am not an oil expert althought I consider myself an average intelligent man and capable of a little more in depth analisys.
Why wasn´t PDVSA the one asking/receiving the money they needed?
Why they (PDVSA) had to do it all through their north american branch?
Lets hear it ..........