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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Lyondell & Citgo

Lyondell & Citgo

posted on Jan 06, 2009 04:55PM

This BK of russian Lyondell/Bassel could be very, very troubling for Hugo. Lyondell bot Citgo's refineries a number of years ago and those refineries are primarily the ones that refine VZ EXtra Heavy crude. I've researched what others can handle VZ crude and can't find any. If the russian co. that bot Lyondell in 07 for 12.5 Bil now is in BK, it will probably disrupt oil shipments from VZ to US. With oil as low as it is, other refiners will pick up the void created by Lyondell/Bassel to produce the gasoline products. VZ could very well be stuck with oil and no place to ship it. All dressed up with no place to go and no income in a country dependent on oil for 90+% of its revenue. If this proves true - he's Toast.

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