Cities Services

Citgo Petroleum Corporation (or Citgo) is a refiner, transporter, and marketer of transportation fuels, lubricants, petrochemicals, and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A., the national oil company of Venezuela. An entrepreneur named Henry Latham Doherty. After quickly climbing the ladder of success in the manufactured gas and electric utility world, Doherty in 1910 created his own organization, Cities Service Company, to supply gas and electricity to small public utilities. He began by acquiring gas producing properties in the mid-continent and southwest. The company then developed a pipeline system, tapping dozens of gas pools. To make this gas available to consumers, Doherty moved to acquire distributing companies and tied them into a common source of supply. Cities Service became the first company in the mid-continent to use the slack demand period of summer to refill depleted fields near its market areas. In this way, gas could be conveniently and inexpensively withdrawn during peak demand times. In 1931, Cities Service completed the nation's first long-distance high pressure natural gas transportation system, a 24-inch pipeline stretching some 1,000 miles. Eventually they would change their name to Citgo.

Subject ID: 4449

More

Citgo Petroleum Corporation (or Citgo) is a refiner, transporter, and marketer of transportation fuels, lubricants, petrochemicals, and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A., the national oil company of Venezuela. An entrepreneur named Henry Latham Doherty. After quickly climbing the ladder of success in the manufactured gas and electric utility world, Doherty in 1910 created his own organization, Cities Service Company, to supply gas and electricity to small public utilities. He began by acquiring gas producing properties in the mid-continent and southwest. The company then developed a pipeline system, tapping dozens of gas pools. To make this gas available to consumers, Doherty moved to acquire distributing companies and tied them into a common source of supply. Cities Service became the first company in the mid-continent to use the slack demand period of summer to refill depleted fields near its market areas. In this way, gas could be conveniently and inexpensively withdrawn during peak demand times. In 1931, Cities Service completed the nation's first long-distance high pressure natural gas transportation system, a 24-inch pipeline stretching some 1,000 miles. Eventually they would change their name to Citgo.

Subject ID: 4449

Less