Chevron to sell fuels, aviation business in Spain

Chevron Corp. agreed to sell its Spanish fuels, finished lubricants, and aviation business in Spain to Cia. Espanola de Petroleos SA (CEPSA).

By OGJ editors
HOUSTON, Feb. 7
-- Chevron Corp. agreed to sell its Spanish fuels, finished lubricants, and aviation business to Cia. Espanola de Petroleos SA (CEPSA).

The companies being sold are Chevron Espana SA and Chevron Estaciones de Servicio. The sale is subject to regulatory approvals.

CEPSA plans to buy 62 Texaco-branded service stations in the Canary Islands and its aviation supply agreements at 11 airports. The transaction also includes the Valencia lubricants blending plant.

Chevron will retain its marine lubricants business in Spain.

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