All of the affiliates are wholly owned with the exception of Chevron Togo in which Chevron has a 65% interest. Chevron’s upstream operations in the region are not affected by the sale.
The transactions are expected to close following receipt of local regulatory and government approvals. No additional details of the transactions were disclosed.
Mike Wirth, executive vice president of global downstream at Chevron, said: This sale is in line with our ongoing effort to concentrate downstream resources and capital on strategic global assets. We are increasing efficiency and improving returns by shrinking our marketing footprint to better align with our refining operations.
