PDVSA consolidates LatAm fuel distribution ops

Venezuela's state oil firm PDVSA has transferred the activities of its Houston-based Citgo International Latin America (CILA) and Deltaven Internacional subsidiaries to its international sales unit based in Caracas, PDVSA said in a statement. PDVSA's board approved the transfer in April in line with the company's revision of its international businesses, the statement said. PDVSA has now consolidated control over all its Latin American and Caribbean fuel distribution businesses at is trade and supply division in Caracas. CILA was created in 2000 as a subsidiary of PDVSA's US refining and distribution unit Citgo to sell fuels and lubricants in the Latin American market under the PDV and Citgo brands. CILA has offices in Argentina, Puerto Rico, Mexico, Brazil, Chile, Ecuador and Guatemala, the statement said. CILA reported profits of US$4.5mn in 2004. Deltaven Internacional is the foreign sales arm of PDVSA's domestic fuel selling division Deltaven. President Hugo Chávez has expressed concern about Venezuela's dependence on the US fuels market where 60% of the country's oil exports end up and has repeatedly urged his energy policy makers to diversify markets for Venezuelan fuels. PDVSA's trade and supply division is headed by Asdrúbal Chávez, a longtime employee of PDVSA, a member of its board and cousin of Chávez.