Chevron Sells Greek Blend Plant


Chevron Global Lubricants said last month that it has agreed to sell a blending plant and fuels terminal in Skaramanga, Greece, to an affiliate of gasoline supplier Aegean Petroleum S.A. The transaction marked Chevrons second divestment inEurope in three weeks.

The Skaramanga facilities, operated by Texaco Greek Lubricants Co., are slated to be purchased by Melco Petroleum S.A., an owner and manager of fuels terminals. In a July 27 news release, Chevron said the companies still must work out details of the deal and that they expect it to close in the fourth quarter of this year.

Chevron acquired the facilities as part of its 2001 purchase of Texaco. Officials described the sale as part of a broader effort to consolidate the companys network of blending plants around the world. In early July, it sold its 25-percent stake in Bulgarian lube producer Prista Oil.

Chevron said it will continue marketing lubricants and aviation and marine fuels in Greece after the sale is completed.

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