[Niagara]

7-Eleven Dropping Venezuela-Backed Citgo

DALLAS (AP) -- 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.

Chavez has called President George W. Bush the devil and an alcoholic. The U.S. government has warned that Chavez is a destabilizing force in Latin America.

[emersonbiggins]

Though you'd never know by this article, I suspect the decision made by the Citgo up-and-ups a few days back about cutting gas deliveries to 1,800 U.S. stations is behind 7-Eleven's shift towards marketing its own brand of fuel, rather than some reactionary shift on the part of 7-Eleven's management to Chavez's remarks.

Why it was reported this way is, well, anybody's guess...

[FoxV]

So where is the gasoline going to come from if Citigo is no longer supplying almost 4000 stations.

oh well, more oil to send to china I guess.

[BlisteredWhippet]

$this->bbcode_second_pass_quote('FoxV', 'S')o where is the gasoline going to come from if Citigo is no longer supplying almost 4000 stations.

oh well, more oil to send to china I guess.

[smallpoxgirl]

$this->bbcode_second_pass_quote('FoxV', 'S')o where is the gasoline going to come from if Citigo is no longer supplying almost 4000 stations.

[FoxV]

big spike in oil price at the same time as this announcement. Have traders made the connection as well.

perhaps I'm not just whistling dixie

[NEOPO]

Yeah anti Hugo is popular....yeah this is spin.....

"There's buckwheat cakes and Injun batter,
Makes you fat or a little fatter;
Look away! Look away! Look away!
Dixie Land"

Funny how things tie in like that.
A small world indeed.

[Specop_007]

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('FoxV', 'S')o where is the gasoline going to come from if Citigo is no longer supplying almost 4000 stations.

[gnm]

$this->bbcode_second_pass_quote('BlisteredWhippet', 'F')or all I know, maybe they also own DallASS.

[Colorado-Valley]

I admit I am lost as to why the U.S. is attempting to turn all the planet's countries into places that completely loathe America.

Maybe I'm just not seeing the Big Picture. Why are they doing this?

It's suicidal.

[mjdlight]

$this->bbcode_second_pass_quote('Colorado-Valley', 'I') admit I am lost as to why the U.S. is attempting to turn all the planet's countries into places that completely loathe America.

Maybe I'm just not seeing the Big Picture. Why are they doing this?

It's suicidal.

[Bleep]

It is my personal observation that the nearby stand-alone Citgo station has very recently dropped the price of gasoline to the lowest in the area after being a fairly high-priced station. I also live nearby a 7-11/Citgo combo so I'll be able to witness the breakup.

Meanwhile, NPR admitted this:
$this->bbcode_second_pass_quote('', '[')url=http://www.npr.org/templates/story/story.php?storyId=6154806]7-11 Drops Citgo, Citing Ties to Venezuela's Chavez (link)[/url]

...skip...

7-Eleven's supply switch was actually in the works long before President Chavez spoke last week. The company sought bids for a new supplier of gasoline in October of 2004, and lined up at least one replacement more than a month ago.

[Bleep]

But Sid! What about the Orinoco Belt ultra-heavy crude?

[Dezakin]

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('FoxV', 'S')o where is the gasoline going to come from if Citigo is no longer supplying almost 4000 stations.

[Rafa]

7-11 officially announces that there isn't any "boycott" and that it is just a long scheduled end of contract.

It isn't to send more oil to China either; simply the 7-11 pumps were already fueled with non-venezuelan oil (CITGO had to buy oil elsewhere to fuel those pumps, and that wasn't a very good economical thing either).

CITGO just cut some expenses by recentring on selling only the oil it refines itself.

Probably the oil no longer bought by CITGO will be bought by 7-11 itself, or maybe some other oil company that will fuel the 7-11 pumps in place of CITGO.

[sciencegirl]

I guess 7-11 is no longer buying it's fuel from Citgo because of political reasons. What a bunch of dumb f*cks. I am boycotting 7-11.

Here is the link: http://www.signonsandiego.com/news/busi ... citgo.html

[perdition79]

It's almost like 7-11 has never heard of Jevon's Paradox. All that delicious Venezuelan oil that we used to drink will just be sucked up by someone else, like China. I'm with you on this one, 7-11 screwed up big time on this deal, biting the hand that feeds and all.

[lateStarter]

To be honest, I didn't even know that 7-11's existed anymore! When I saw this, it was like a flashback to the 70's. I haven't been in the states recently. Where are they mainly concentrated? I thought they were loosing major market share to the many other 'Gas and Go' places appearing locally/regionally....

[PenultimateManStanding]

$this->bbcode_second_pass_quote('lateStarter', 'T')o be honest, I didn't even know that 7-11's existed anymore! When I saw this, it was like a flashback to the 70's. I haven't been in the states recently. Where are they mainly concentrated? I thought they were loosing major market share to the many other 'Gas and Go' places appearing locally/regionally....