Chevron on Monday said its Chevron Africa Holdings subsidiary has agreed to sell 100 percent of its shareholdings in Chevron Kenya Ltd. and Chevron Uganda Ltd. to Total, including a lubricants blending plant.
A Chevron spokesman told Lube Report the blending plant is in Kenya. He said the company had no comment beyond its announcement.
Total said the acquisition confirms its commitment to strengthen its leadership in Eastern Africa.
The divested companiesmarket lubricants, fuels, aviation and liquefied petroleum gas products through a network of 165 Caltex-branded service stations, seven fuel depots, six aviation facilities, one terminal, the blending plant, and a commercial and industrial fuels business.
The transactions are subject to regulatory approvals and are expected to close in the first half of 2009.
In September, Chevron outlined plans to sell downstream businesses in Nigeria, Benin, Cameroon, Republic of the Congo, Ctre dIvoire and Togo to an African consortium. Chevron officials have said the sales of marketing businesses in Africa are part of an effort to shrink the companys marketing footprint to better align with its refining operations.