Citgo is moving from Tulsa to Houston

Citgo is leaving Tulsa. The company ended months of speculation Monday when it announced it is relocating its world headquarters to Houston. <br><br>News on 6 business reporter Steve Berg explains what

Monday, April 26th 2004, 12:00 am

By: News On 6

Citgo is leaving Tulsa. The company ended months of speculation Monday when it announced it is relocating its world headquarters to Houston.

News on 6 business reporter Steve Berg explains what it means to have one of Tulsa's largest employers leave town. After several rounds of "good" economic news over the past few months, this is a big blow to Tulsa, no question.

Hundreds of jobs will be moving out of Tulsa. But all is not lost. Citgo President Luis Marin says 70% of the workforce will be relocating to Houston. But 300 jobs will be kept here. And it doesn't appear there was much Tulsa could have done differently.

Texas is giving $35-million in incentives to Citgo. But Marin said that even if Tulsa had given more, it would not have made a difference in their decision to move. He says this is mostly a strategic decision. He says the vast majority of oil companies are headquartered in Houston and says "that" is where Citgo needs to be.

Workers were told not to speak to the media, but one man did offer some general comments. "They're all good jobs. I can't complain about any of my time at Citgo, they've been good to me while I've been there. I was prepared either way so it was nice to have closure."

Citgo says the move will begin immediately, but will take as much as two years to complete, so things won't be changing overnight. But it is a big change.