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Citgo to Offer Discounted Heating Oil to Poor in Boston, Bronx

Venezuela-owned oil company Citgo says it will begin offering discounted heating oil to poor U.S. residents in Boston and New York City next week.

The company, which is based in Houston, Texas, says it will offer up to 12 million gallons of oil to residents of Boston, Massachusetts in an attempt to show its commitment to communities where it sells its product. It says its parent company, Venezuela's state oil company PDVSA, fully supports the move.

A statement from Citgo says the company is coordinating with nonprofit organizations to identify recipients, distribute the oil, and bill recipients at the discounted rate.

The program is expected to extend later to the Bronx borough of New York City.

The cost of heating a home is expected to reach record prices in the United States this year.