Congressman José E. Serrano

Representing the Sixteenth District of New York

PRESS RELEASE

The Bronx, NY, November 21, 2005—Today, Congressman José E. Serrano announced a program to provide reduced-cost heating oil to low income residents of his district.

CITGO will provide 8 million gallons of home heating oil below cost to several non-profit housing providers in the Bronx beginning the week after Thanksgiving. CITGO is a Houston-based oil company owned by PDV America, Inc., an indirect, wholly-owned subsidiary of Petróleos de Venezuela, S.A.

The program comes as record high heating oil prices are expected and the winter months approach. Having heard firsthand the concerns of many constituents and local organizations about rising energy costs, Congressman Serrano initiated discussions with CITGO following Venezuelan President Hugo Chávez’ visit to the Bronx in September.

President Chávez made an offer of low-cost heating oil during a speech at a community center. Congressman Serrano had invited Chávez to tour the 16^th Congressional District in the Bronx and to visit with community groups from the area. Serrano later worked with representatives of CITGO and community-based organizations to bring the heating oil program to fruition.

“I am very pleased to have helped broker this historic arrangement,” said Congressman Serrano. “I look forward to hosting a final signing ceremony next week, where the representatives of CITGO and non-profit housing providers will conclude this deal. My constituents are facing some of the highest energy bills in recent history, even as oil companies are reporting the largest profits in recent memory. CITGO is acting like a good corporate citizen and making a generous and compassionate donation to the people of the Bronx. I applaud their actions.”

Further details of the arrangement will be announced at a press conference and signing ceremony the week after Thanksgiving with the housing providers and CITGO representatives present.

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Congressman José E. Serrano has represented the Bronx in the House of Representatives since 1990.