Texaco up for 'potential sale'

Mon, Nov 29th 2010, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

Chevron Corporation, the multi-billion dollar global energy company, has placed its Texaco (Bahamas) business up for "potential sale", it confirmed to Tribune Business yesterday, part of a wider strategy to exit its 'downstream' retail and wholesale businesses in the wider Caribbean.

In response to this newspaper's inquiries, a Chevron Corporation spokesman confirmed that the company is seeking an exit route from the Bahamas and eight other regional markets, following the sale of its fuels marketing and aviation businesses in the eastern Caribbean to Viotgaz S. A., an subsidiary of France-based Rubis, for a purchase price said to b ...

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