Chevron has agreed to sell its fuels marketing and aviation businesses in Antigua, Barbados, Grenada, Dominica, St Lucia, St Vincent, Guyana, St Kitts, French Guiana, Martinique, Guadeloupe, Trinidad, Nicaragua, Costa Rica and Belize to Vitogaz.
Under the terms of the agreement, RUBIS will acquire a network of 174 service stations operating under the Texaco brand, an equity interest in an associated refinery operation, proprietary and joint-venture terminals and aviation facilities, and Chevron’s commercial and industrial fuels business.
The transactions are expected to close in full by the third quarter 2011 following receipt of required local regulatory and government approvals.
Chevron Downstream & Chemicals executive vice president Mike Wirth said this sale is in line with the company’s ongoing effort to concentrate downstream resources and capital on strategic global assets.
