HOUSTON, June 3, 2008 --- CITGO Petroleum Corporation launched its first Supplier Diversity Networking Event for Minorities here today with a ceremony attended by dignitaries, business leaders and more than 600 potential vendors.  Visitors toured a reverse trade show where more than 100 CITGO experts and end users were available to openly discuss the company's needs for services and materials.

"This special effort recognizes the need to change the way we do business in the refining industry in order to provide greater opportunity to all in the communities where we operate," CITGO Chairman, President and CEO Alejandro Granado told attendees.

"By doing this, we reinforce our commitment to support minorities, helping our communities to prosper," he added.

This two-day event is providing an opportunity for potential vendors to meet face-to-face with decision makers and learn how to do business with the company.

CITGO President Chairman and CEO Alejandro Granado officially opened the event today. Guest speakers included Women's Business Enterprise National Council (WBENC) Chairwoman Cheryl Stevens.  She discussed the importance of corporate commitment to doing business with women businesses, and acknowledged CITGO's efforts in this area. Jim Metcalf, founder of Filter Resources, a current CITGO supplier and a minority-owned business, spoke about his long-term relationship with CITGO and how it has helped his business grow.  Venezuelan Ambassador Bernardo Alvarez offered closing remarks, highlighting that with this initiative, CITGO is promoting inclusion in its supplier chain in a similar fashion to efforts carried out by CITGO's ultimate parent, Petróleos de Venezuela.

The event is presenting information on more than 30 categories of materials and services used by CITGO at its refineries, other operational facilities, and administrative areas.