7-Eleven Dumps Venezuela-Backed Citgo Gasoline

[link to www.kcci.com]



DALLAS -- 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 convenience store operator said it'll buy fuel from several distributors, including Tower Energy Group, Sinclair Oil and Frontier Oil -- all of which are based in the United States.

7-Eleven said its 20-year contract with Citgo ends next week. About 2,100 of the chain's 5,300 U.S. stores sell gasoline.


Citgo is a subsidiary of Venezuela's state-owned oil company, which became a public-relations issue for 7-Eleven because of comments by Venezuelan President Hugo Chavez about George W. Bush.