MONTEVIDEO, Uruguay, June 27 /PRNewswire-FirstCall/ -- Chevron Latin
America Marketing LLC and Chevron Amazonas LLC, both indirect, wholly owned
subsidiaries of Chevron Corporation, have signed an agreement with
D.U.C.S.A. -- the state owned petroleum marketing and distribution company
operating under the ANCAP brand -- for D.U.C.S.A. to purchase the Chevron
fuels marketing business in Uruguay.
This agreement reflects Chevron's downstream strategy to improve
returns by focusing on areas where it has a competitive supply position and
strong brand recognition.
The agreement will add 90 of Chevron's Texaco-branded stations to
DUCSA's existing retail network in Uruguay. The stations are expected to be
rebranded to reflect the ANCAP brand.
Texaco-branded lubricants products will continue to be distributed and
marketed in Uruguay through D.U.C.S.A.
Chevron began its operations in Uruguay in 1932 through the Texaco
brand. Chevron Corporation is one of the world's leading energy companies.
With its headquarters in San Ramon, Calif., and approximately 56,000
employees, Chevron conducts business in approximately 180 countries around
the world, producing and transporting crude and natural gas, as well as
refining, marketing and distributing lubricants, fuels and other energy
products. For more information, please visit http://www.chevron.com.
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE
PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995.
This news release contains forward-looking statements relating to
Chevron's plans for its fuels marketing business in Uruguay. These
statements are based on management's current expectations, estimates and
projections about the petroleum industry; are not guarantees of future
performance; and are subject to certain risks, uncertainties and other
factors, some of which are beyond our control and are difficult to predict.
Among the factors that could cause actual results to differ materially
include the successful fulfillment of the terms of the sales agreement;
failure to close the sale as anticipated; and local and general economic
and political conditions. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-looking
statements. You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. Unless
legally required, Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE Chevron Latin America Marketing LLC
 back to top
Related links:
http://www.chevron.com
CONTACT:
Isabelle Guerin, of Chevron Latin America
Marketing LLC, +1-305-304-5120, or Stephanie Price of Chevron
Corporation, +1-925-842-2583
|
