ChevronTexaco Sells Fuel Business in Peru to Peruana de Combustibles S.A.SAN RAMON San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
This agreement is part of ChevronTexaco's downstream strategy to improve returns by focusing on areas where it has a competitive supply position and strong brand recognition for its three world-class brands -- Chevron, Texaco and Caltex. ChevronTexaco will continue to serve Peruvian consumers through its strongly positioned and growing lubricants lubricants preparations for the lubrication of passages to reduce frictional injury, e.g. oily preparations, including petroleum jelly, lanolin or water-soluble preparations such as methyl cellulose. business conducted by Lubricantes y Grasas ChevronTexaco del Peru S.R.L. "This agreement will allow us to concentrate our resources and capital to drive efficiencies and enhance our competitive position in strategic markets," said Shariq Yosufzai, president of ChevronTexaco Global Marketing. Optimizing the portfolio is a key goal for ChevronTexaco Global Marketing, which will focus its investments in preferred markets through world-class capital stewardship stewardship the occupation of being a steward or custodian. Referring to animals it implies the caring sort of relationship based on an acceptance of the need to include the rights of animals in overall plans to maintain financial viability. skills. Network planning and market prioritization processes are guiding decisions on where ChevronTexaco markets and grows its brands. The agreement with PECSA follows other recent announcements in 2005 by Global Marketing that supports this strategy: --A preliminary investment agreement by Caltex South China Investments Limited (CSCIL CSCIL Ciba Specialty Chemicals India Ltd. ) and CITIC CITIC China International Trust and Investment Corporation Resources Holdings Limited (CITIC) to expand the Caltex network in South China. --A proposed agreement where Texaco Limited would sell 140 Texaco stations to Somerfield, the fifth largest food retailer in the UK while continuing to supply Texaco branded fuel to the service stations. --An agreement by ChevronTexaco Petroleum Company to sell its 15 company-owned Texaco service stations in Colombia to Combustibles de Colombia, S.A. ChevronTexaco Corp. is one of the world's leading energy companies. With more than 47,000 employees, ChevronTexaco subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar , marketing and distributing fuels and other energy products. ChevronTexaco Global Marketing is a division of ChevronTexaco Global Downstream LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a wholly-owned subsidiary of ChevronTexaco Corp. ChevronTexaco is based in San Ramon, Calif. More information on ChevronTexaco is available at www.chevrontexaco.com Cautionary Statement Relevant to Forward-Looking Information for the Purpose of "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Some of the items discussed in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. about the sale of ChevronTexaco's fuels marketing business in Peru and the company's global downstream strategic direction. The statements are based upon management's current expectations, estimates, and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Among the factors that could cause actual results to differ materially include the demand for and supply of refined petroleum products; refining and marketing margins; significant investment or product changes under existing or future environmental regulations (including regulations dealing with the composition and characteristics of fuels); and general political and economic conditions. You should not place undue reliance on these forward-looking statements, which speak only as of the date of the press release. Unless legally required, ChevronTexaco undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. |
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