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Archive for Saturday, August 16, 2003

Tulsa officials work to retain Citgo Petroleum

August 16, 2003

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— Gov. Brad Henry said he's not sure what sort of incentives the state can offer Citgo Petroleum Corp., but he and Tulsa Mayor Bill LaFortune were confident the oil giant would stay in town.

Henry and LaFortune say Tulsa's low cost of doing business will convince the company not to relocate its headquarters, and roughly 1,000 jobs, to Houston.

"Houston has become the energy capital, so it's natural that a company might want to move there," Henry said Thursday. "They've got a better deal here though. The cost of doing business in Oklahoma is lower than doing business in Texas."

Citgo, a division of Venezuela's state oil company, Petroleos de Venezuela SA, revealed Wednesday that it is considering moving its headquarters to Houston.

LaFortune and Rep. John Sullivan, R-Okla., are scheduled to meet with Citgo officials Monday. Henry's staff is trying to arrange a meeting with new Citgo CEO Luis Marin.

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