Global Processing

Chevron to sell Kenya, Uganda assets to Total

November 3, 2008

According to the Associated Press, Chevron Corp. will sell its Kenya and Uganda businesses to Total Outre Mer SA for an undisclosed amount. Chevron Africa Holdings Ltd. will sell its entire stake in the businesses, which include 165 Caltex-branded service stations, one terminal, seven fuel depots, six aviation facilities, one lubricants blending plant, and a commercial and industrial fuels business. The deal, which still requires regulatory approval, is expected to close in the first half of 2009