Under the agreement, the company will sell its Spanish fuels, finished lubricants and aviation businesses and the Valencia lubricants blending plant.
The sale will see CEPSA assume ownership of around 62 Texaco-branded service stations in the Canary Islands, its aviation supply agreements at 11 airports, and the lubricants blending plant at Valencia, finished lubricants sales and marketing operations in Spain, excluding lubricants global accounts.
Chevron said it will retain its Marine Lubricants business in Spain.
