Chevron Sells Fuel Business in Uruguay to D.U.C.S.A.
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MONTEVIDEO, Uruguay, June 27 / -- Chevron Latin America Marketing LLC and Chevron Amazonas LLC, both indirect, wholly owned subsidiaries of Chevron Corporation, have signed an agreement with D.U.C.S.A. -- the state owned petroleum marketing and distribution company operating under the ANCAP brand - for D.U.C.S.A. to purchase the Chevron fuels marketing business in Uruguay.
This agreement reflects Chevron's downstream strategy to improve returns by focusing on areas where it has a competitive supply position and strong brand recognition.
The agreement will add 90 of Chevron's Texaco-branded stations to DUCSA's existing retail network in Uruguay. The stations are expected to be rebranded to reflect the ANCAP brand.
Texaco-branded lubricants products will continue to be distributed and marketed in Uruguay through D.U.C.S.A.
Chevron began its operations in Uruguay in 1932 through the Texaco brand. Chevron Corporation is one of the world's leading energy companies. With its headquarters in San Ramon, Calif., and approximately 56,000 employees, Chevron conducts business in approximately 180 countries around the world, producing and transporting crude and natural gas, as well as refining, marketing and distributing lubricants, fuels and other energy products. For more information, please visit http://www.chevron.com/.
FCMN Contact: kbgs@chevron.com
Source: Chevron Latin America Marketing LLC
CONTACT: Isabelle Guerin, of Chevron Latin America Marketing LLC,
+1-305-304-5120, or Stephanie Price of Chevron Corporation,
++1-925-842-2583
Web site: http://www.chevron.com/
