7-Eleven Dropping Venezuela-Backed Citgo

[KaGee]

AP
Sep 27 12:13 PM US/Eastern

Convenience store operator 7-Eleven Inc. is dropping Venezuela-backed Citgo as its gasoline supplier at more than 2,100 locations and switching to its own brand of fuel.
The retailer said Wednesday it will purchase fuel from several distributors, including Tower Energy Group of Torrance, Calif., Sinclair Oil of Salt Lake City, and Houston-based Frontier Oil Corp.

A spokeswoman for Dallas-based 7-Eleven said its 20-year contract with Citgo Petroleum Corp. ends next week. About 2,100 of 7-Eleven's 5,300 U.S. stores sell gasoline.

Citgo is a Houston-based subsidiary of Venezuela's state-owned oil company, and the foreign parent became a public-relations issue for 7- Eleven because of comments by Venezuelan President Hugo Chavez.

 

[Firestar]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Kudos to 7-eleven8)

 

[Limited-Time]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I like the statement 7-11 is making...........................but how will it affect the American employees of Sh-itgo in the area?

 

[Firestar]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I knew a guy in the gasoline business and he told me that Citgo was the dirtiest gas you could put in your car. Scew **** up after a while.

 

[KaGee]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I like the statement 7-11 is making...........................but how will it affect the American employees of Sh-itgo in the area?

Don't know LT, but everything comes at a price. Some backlash would be expected, I guess.

 

[Firestar]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I'm going to have to give their gas a try now. I like that they are buying from American companies.

 

[kenimpzoom]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Ummm. 7-11 doesnt care what Chavez says, they just want to make sure they dont get boycotted.

Here is a secret. That gas you buy at the gas station just might be Citgo gas. The brand of gas only tells where the additives came from, not where the base gasoline comes from.

Ken

 

[Gone]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Citgo announced several months back that they were going to reduce the number of stations in the US. Perhaps this is what they meant? They are rumoured to no longer be the major sponsor of the Bassmaster tournament next year.

CD.

 

[rodbolt]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

its right funny, but citgo is a major refiner in north america. would not be funny if in retaliation the VE govt just closed the refineries. citgo employs a lot of americans and keeps them in good income brackets.
PDVSA just sold one refinery and I understand the other two are on the market. China and brazil were contracted to build 30 some odd tankers,instead of a good ole merican yard, to haul venezuelan oil.
if chavez gets reelected he will have sold off the US refineries,he is building his own down south and will have no economic need to ship oil across the gulf of mexico.
Katrina was rough but could you imagine the price of gas if we suddenly lost 1/5th of the oil coming into the states?

but its cool, me and the finacial counsler have been moving some mutual funds about to cover the bets.
at worst I am gonna make a killing. at best only about 11%.
Chavez uses the US to help keep the uneducated semi literate masses supporting him, same as most our presidents have done over the years.
same as most any leader or dictator has done.
nothing new here other than the constant media spin.
but boycotting citgo wont affect anything.
kinda like boycotting Bush beer and drinking budwieser instead.
from what I read the move to close 2100 stations was a contractual supply isssue. with the sale of the TX refinery they could not fullfill the same contracts.
its right funny custombycrunch mention nationalizing, bet he does not care to guess hgow many govts the US has toppled when they attempted to nationalize their oil fields.
thats what has the Bushies in a row, Chavez is nationalizing venezuela's oil fields and there isnt any thing now that will stop them short of Chavez losing the dec elections or a US invasion.
neither seems likly.
the iranians finally did mostly nationalize theirs and the Iraqis are planning to. there is a lot more to the Iraqi mess than terror but the attention is diverted.

 

[Gone]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Dropping the retail stores doesn't mean they will not sell to the wholesale market. They'll sell just as much gas but not take the political heat.

Not to hijack but what's the story on Valero?? Are they poised to replace Citgo?

CD

 

[KaGee]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Dropping the retail stores doesn't mean they will not sell to the wholesale market. They'll sell just as much gas but not take the political heat.

Not to hijack but what's the story on Valero?? Are they poised to replace Citgo?

CD

Here's what the article says...

The retailer said Wednesday it will purchase fuel from several distributors, including Tower Energy Group of Torrance, Calif., Sinclair Oil of Salt Lake City, and Houston-based Frontier Oil Corp.

Are any of them Valero? I don't know.

 

[snapperbait]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Long as I can still get a Diet Coke Big Gulp at 7-11, I don't care what gas they carry...

 

[Kenneth Brown]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Long as I can still get a Diet Coke Big Gulp at 7-11, I don't care what gas they carry...

I'm sure that Asheem Akbar Mohommad Mohommad Myshir will be happy to sell you one too!

 

[crunch]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I think we should boycott all gas stations unless they sell only "home brew".... then we'd know in our hearts we weren't supporting hostile governments.

 

[Mark42]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Why beat around the bush? Just shoot Chavez in the head and get it over with. And it sends a good message to anyone else who wants to criticize the good ol' USA. :devil:

 

[KaGee]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I think we should boycott all gas stations unless they sell only "home brew".... then we'd know in our hearts we weren't supporting hostile governments.

Try SUNOCO or BP/AMOCO for starters, but I know there are others that refine crude from friendlies.

 

[Gone]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

I think we should boycott all gas stations unless they sell only "home brew".... then we'd know in our hearts we weren't supporting hostile governments.

UMMM, I'l start Monday. I have to bring my 'toon back 150 miles and I'll need gas for the trip.
It might be Tuesday or Wednesday before I work out an alternate way to work. Aw shoot, I have a Dr. appt Thursday. Might not be able to do it until the week after, but I'll try. I will....honest.

I've started with Citgo for now.

CD.

 

[crunch]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

Why beat around the bush? Just shoot Chavez in the head and get it over with. And it sends a good message to anyone else who wants to criticize the good ol' USA. :devil:

I assume you have your rain gear and flak jacket handy...

 

[rodbolt]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

BP ? sunnoco? Exxon? all buy crude from VE.
VE is the 4th largest supplier of crude oil to the US.
if Chavez wants to pinch us ,and it will pinch him, he can do it and do it bad.
some models show gasoline prices as high as 11 dollars a gallon.
are ya really really sure ya wanna do this ?
wont matter to me soon, but careful how the kneejerk works, again.
some months back, mostly unkown to all the intellectuals on iboats, PDVSA bought back 100% of the public stock taking CITGO back to total private holdings and does not have to list to the SEC.
trust me its gonna get yiggy soon.
one himicane and chavez will shut off north bound oil just to poke the US.
Bush and Co will reap unheard of profits, the rest of us will suffer.
as long as Bush and Co can keep attention diverted to the silly war he started we will lose our middle class.

doesnt matter much to me as some recent real estate deals left me in a retirement postion at age 44.

if I live moderatly I dont have to hit a lick at a snake the rest of my life.
time to place the gone fishing sign on the door.
yall have a nice day now ya heer .

 

[JB]

Re: 7-Eleven Dropping Venezuela-Backed Citgo

7-11 is making no statement, and their decision to market their own brand has nothing to do with Chavez' diarrhea of the mouth or the ownership of Citgo.

Just coincidence. 7-11 has been planning this move for months.