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Iran

Ecomike

Ecomike

NAXJA# 2091
NAXJA Member
Location
MilkyWay Galaxy
Strange to hear that while Iran is oil rich, it is dependent on gasoline imports, big time!
 
Yep, 1/3 of its gas is imported. I had no idea that the government subsidized so much of their energy costs. IIRC, in Bahrain, gas was about 25 cents a gallon. Makes me wonder if it is subsidized there too....but that island is so small, you probably don't put 1000 miles on your car in a year :D

Iran is really hurting, financially, I think - besides oil (and I'm not even sure who they sell their oil to - China? Russia?), their only export would probably be weapons....

Whoa....Citgo is Venezuelan owned??? Where have I been...?
 
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JNickel101 said:
Yep, 1/3 of its gas is imported. I had no idea that the government subsidized so much of their energy costs. IIRC, in Bahrain, gas was about 25 cents a gallon. Makes me wonder if it is subsidized there too....but that island is so small, you probably don't put 1000 miles on your car in a year :D

Iran is really hurting, financially, I think - besides oil (and I'm not even sure who they sell their oil to - China? Russia?), their only export would probably be weapons....

Whoa....Citgo is Venezuelan owned??? Where have I been...?
Click to expand...

LOL. Citgo. I hear the local Citgo stations are locally owned franchises. The deeper you get into wallstreet, the harder it gets to figure out who really owns what, as the lenders own a lot more than is readily visable to us. Did you where Venezuela also imports gasoline, as they use more than they make, and the government subsidizes it at 4cents per liter! No wonder Hummers are popular down south, LOL.
 
Yeah, I read that too. I just didn't realize that Citgo was the refining portion of their state-owned oil operation. I'm gonna have to make a list now....

BP - British?
Conoco -
Royal Dutch Shell - Netherlands
Texaco - US?
Citgo - Venezuela
Diamond Shamrock (are they owned by someone else?) -
Exxon-Mobil - US?
 
Yup, Citco is Venezuela State owned, and we are their largest customer.
They also subsidise heating oil for their poorer customers in the US. Sort of Hugo's way of pointing out that we don't/won't take care of our poor... but HE will.

I never stop at shitco if I can help it.

Ron
 
Most of the mideast oil countries pay their citizens about $11-25K a year per family member, depending on prices per barrel. Saudi, Bahrain , Qatar, etc. When I say citizen I mean as in born there.
 
I'm pretty sure we don't have a Citgo here in town, but I'd be curious to find out if any of the local "mom and pop" convenience stores get their gas from Citgo....

Oh ya, I forgot to add Chevron to the list...
 
IIRC Chevron and Exxon still have (and had) operations in Venezuela.
 
True, but they were confiscated by the Chavez gang.

IIRC, they are allowed to operate the rigs, but with a serious amount of payola to the Chavez government. It certainaly is not as profitable as it was in the pre-chavez days.

Ron
 
Arco? Not sure I ever heard of that one....unless they go by a different name on the retail front...?
 
Arco was a big east coast refinery, they have or had HUGE oil storage tanks in south Philly, I could see them from my room at the philly naval hospital way back when. Their gas was OK and they sold it under the arco label [it was carried on almost all the local bases, NAS Willow Grove, NAS Lakhurst, McGuire, Ft Dix, Tobyhanna army depot. Philly naval base, etc.

Thinking back on it I seem to remember it stands for Atlantic Richfield Company.
 
Damn, and I'm from PA - I still don't remember that :D

I forgot about Hess....and I'm gonna look and see who Flying J gets their gas from....

EDIT: I knew I liked Flying J for a reason - independently owned and they drill for their own oil/refine their own gas from the Rocky Mtns....Canada....and California
 
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ARCO = Atlantic-Richfield Oil Company. They used to give out plastic animals in pairs, you could buy a toy Ark for a small fee.
 
IIRC Flying J went bankrupt last year, and nearly took their supplier with them, Berry petroleum (BRY, a stock I recently owned).
 
Just did some reading on it - man, didn't know about that. Apparently their purchase of the Shell refinery in Bakersfield is what did it.....then they sold it off, and merged with Pilot...Pilot being the majority owner now.
 
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