The companies also settled all disputes between Lyondell, Citgo and Citgo parent Petroleos de Venezuela, including the litigation concerning the refinery crude supply agreement. The terms were not disclosed.
Lyondell-Citgo Refining LP was formed in 1993 as a joint venture between Lyondell Chemical and Citgo Petroleum, an indirect wholly owned subsidiary of Petroleos de Venezuela the national oil company of Venezuela. Lyondell holds a 58.75% interest in LCR and Citgo holds a 41.25% interest.
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