Regis Philbin
Sep 27th, 2006, 07:52 PM
http://finance.myway.com/jsp/nw/nwdt_rt.jsp?section=news&feed=ap&src=601&news_id=ap-d8kdelf80&date=20060927
7-Eleven Drops Citgo As Gas Supplier
Wednesday September 27, 5:18 PM EDT
DALLAS (AP) — 7-Eleven Inc. dropped Venezuela-owned Citgo as its gasoline supplier after more than 20 years as part of a previously announced plan by the convenience store operator to launch its own brand of fuel.
7-Eleven officials said Wednesday that the decision was partly motivated by politics.
Citgo Petroleum Corp. is a Houston-based subsidiary of Venezuela's state-run oil company and 7-Eleven is worried that anti-American comments made by Venezuelan President Hugo Chavez might prompt motorists to fill-up elsewhere.
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.
"Regardless of politics, we sympathize with many Americans' concern over derogatory comments about our country and its leadership recently made by Venezuela's president," said 7-Eleven spokeswoman Margaret Chabris.
In fact, the deal between the two companies was set to expire at the end of this month. And more than a year ago, 7-Eleven sought bids from other suppliers with an eye toward selling its estimated 2 billion gallons a year of gasoline under its own brand.
7-Eleven Drops Citgo As Gas Supplier
Wednesday September 27, 5:18 PM EDT
DALLAS (AP) — 7-Eleven Inc. dropped Venezuela-owned Citgo as its gasoline supplier after more than 20 years as part of a previously announced plan by the convenience store operator to launch its own brand of fuel.
7-Eleven officials said Wednesday that the decision was partly motivated by politics.
Citgo Petroleum Corp. is a Houston-based subsidiary of Venezuela's state-run oil company and 7-Eleven is worried that anti-American comments made by Venezuelan President Hugo Chavez might prompt motorists to fill-up elsewhere.
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.
"Regardless of politics, we sympathize with many Americans' concern over derogatory comments about our country and its leadership recently made by Venezuela's president," said 7-Eleven spokeswoman Margaret Chabris.
In fact, the deal between the two companies was set to expire at the end of this month. And more than a year ago, 7-Eleven sought bids from other suppliers with an eye toward selling its estimated 2 billion gallons a year of gasoline under its own brand.