Question; "Why can I not Trade in 'CITGO'?"

[The Doctor.]

Serious question.

I know it's state owned (?)... but why do I have trouble accessing investment?

[Bozita]

1. It's Citco, I think

[roamer65]

2. It's owned by PDVSA

Petroleos de Venezuela SA.

A Venezuelan, state owned company. I don't know if you can buy shares of PDV.

[The Doctor.]

4. What I figured.

I was somewhat curious if Chavez might have experimented.

It may behoove Venezuela at this point to create a vicious drain in the market.

[karlrschneider]

3. I'm no expert but I -think- it's not publicly traded...

??

[The Doctor.]

5. That I gathered. perhaps I was looking....

for a way out of the Cap Oil triangle.

Either way, thank you.

[A HERETIC I AM]

7. If they are traded here in the States, it is with an "ADR"

for "American Depository Receipt" or "ADS" the S being "Share"

I can't find a symbol. Citgo is owned by Petróleos de Venezuela S.A.(PDVSA) and its North American operations seem to be closely held.

[MazeRat7]

6. Here is the skinny on ownership--- and no you can't buy their stock....

CITGO Petroleum Corporation (“CITGO” or the “Company”) is a direct wholly owned operating
subsidiary of PDV America, Inc. (“PDV America”), a wholly owned subsidiary of PDV Holding, Inc. ("PDV
Holding"). The Company’s ultimate parent is Petróleos de Venezuela, S.A. (“PDVSA”, which may also be
used herein to refer to one or more of its subsidiaries), the national oil company of the Bolivarian Republic of
Venezuela. CITGO and its subsidiaries are engaged in the refining, marketing and transportation of
petroleum products including gasoline, diesel fuel, jet fuel, petrochemicals, lubricants, asphalt and refined
waxes, mainly within the continental United States east of the Rocky Mountains. The Company operates as
a single segment. (See Consolidated Financial Statements of CITGO in Item 15a).

The Company’s common stock is not traded on any market. All of the Company’s common stock is
held by PDV America.

You can find out more from their SEC Filings.

MZr7

[A HERETIC I AM]

8. Looks like they have issued debt instruments in the past, though

I found this article;

http://www.findarticles.com/p/articles/mi_m0EIN/is_2002_Feb_8/ai_82669942

Looks like they have issued bonds in the past.

[The Doctor.]

9. They were owned by Occidental at one point...

So I was interested to know how that ownership was dispersed.

[A HERETIC I AM]

11. This morning i found 3 bonds that they issued, one in 2003....

that pays an astonishing 11.375%. Rated BB so it is speculative or below "Investment Grade" that matures in 2011. There is another out there that also matures in 2011, issued in 2005 with a 6% coupon, also rated "BB".

So..Citgo has indeed issued bonds as "Citgo Petroleum, USA" and it appears their parent company, PDV has issued bonds in the US as well.

[index555]

10. probably not a smart investment

Regardless of your political beliefs , it probably is a bad investment right now since both Venezuela's oil output and production capacity has been dropping rapidly and consistently since Hugo Chavez took power.
While you can blame the large oil companies, (and yes they are in a large part to blame) , can you really blame them?
When any investment they make can be instantly be stolen by Hugo's "presidential decree" why would anybody want to even make the effort , much less sink any money into it?