Chevron Plans to Exit Caribbean Fuel Market

 - December 28, 2010, 10:58 AM

Chevron plans to sell its Caribbean fuel marketing and aviation businesses to Vitogaz, a subsidiary of France-based Rubis, by this year’s third quarter. The transaction will include a service station network, equity interest in a refinery operation, terminals and aviation facilities as well as Chevron’s commercial and industrial fuel businesses, according to the company. “This sale is in line with our ongoing effort to concentrate downstream resources and capital on strategic global assets,” said Mike Wirth, executive vice president, Downstream
& Chemicals, Chevron.