Chevron To Acquire Shell's Downstream Assets in Cameroon
SAN RAMON, Calif., Nov. 30, 2005 -- Chevron Global Marketing today announced that subsidiaries of Chevron Corporation, the parent company of Texaco Cameroon, have reached an agreement to acquire the holdings of Societe Shell du Cameroun, which includes 49 service stations as well as certain other in-country assets.
Chevron's interests in Cameroon date back to the 1950s and currently include 84 Texaco-branded retail sites as well as strong presence in the commercial and industrial sectors and the lubricants market.
In Cameroon, the parties are currently engaged in discussions on the details needed for completion of the final agreement.
Chevron Corp. is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, refining, marketing and distributing fuels and other energy products. Chevron Global Marketing is a division of Chevron Global Downstream LLC, a wholly-owned subsidiary of Chevron Corp.
Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.
Updated: November 2005