PDV America, Inc. and Subsidiaries - Page 4

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          Delaware corporation, operates the refined petroleum product                
          terminals at issue.  CITGO is the eighth largest crude oil                  
          refiner in the United States, with ownership interests in four              
          United States gasoline and distillate refineries.  CITGO’s                  
          refined products include gasoline, diesel fuel, kerosene, and jet           
          fuel.  CITGO is also a transporter and marketer of petroleum and            
          refined petroleum products.                                                 
               As a gasoline marketer, CITGO’s operation is the fourth                
          largest in the United States and includes gasoline products such            
          as regular unleaded, premium unleaded, and various special                  
          formulations of gasoline for particular markets with                        
          environmental emission restrictions.  CITGO sells its branded               
          gasoline through independently owned and operated branded                   
          marketers and also sells unbranded gasoline to independent                  
               In order to move its refined fuel products from the                    
          refineries to the ultimate consumer, CITGO maintains an extensive           
          distribution system of pipelines and terminals.3  Terminals                 
          provide temporary storage for gasoline and other refined products           
          received from nearby refined product pipelines and/or waterways4            

               3CITGO Petroleum Corp. (CITGO) also uses this system to                
          distribute refined products on behalf of others in exchange for             
          transportation and storage fees.                                            
               4Barges transport refined products across waterways to the             

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Last modified: May 25, 2011