CHEVRON INTERNATIONAL OIL COMPANY SEEKING OFFERS FOR CENTRAL AMERICAN MARKETING OPERATIONS
CHEVRON INTERNATIONAL OIL COMPANY
SEEKING OFFERS FOR CENTRAL AMERICAN MARKETING OPERATIONS
SAN FRANCISCO, Oct. 5 /PRNewswire/ -- Chevron International Oil Company (CIOC) is soliciting offers for the purchase of its marketing operations in Guatemala, El Salvador and Nicaragua, the company said today. These operations are comprised of about 200 Chevron-branded stations selling gasolines, diesel and lubricants in the three countries.
CIOC, a wholly owned subsidiary of Chevron Corp. (NYSE: CHV), is an international cargo trader of crude oil and petroleum products and a marketer of petroleum products outside the United States.
"The decision to offer these profitable operations for sale is part of our long-term strategy to concentrate our activities in key areas," said Bob Walsh, CIOC president. "Because these operations are not an integral part of our major business activities, we believe others might find them to be of greater value.
"However, the businesses will be sold only if an attractive offer is made," said Walsh.
While offers are being solicited, CIOC will ensure that all operations and projects continue without interruption.
CIOC is headquartered in San Francisco and has operations in 36 countries.
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/CONTACT: Mike Libbey of Chevron, 415-894-4440/
(CHV) CO: Chevron Corp.; Chevron International Oil Co. ST: California IN: OIL SU: 217 10-05-92 14:07 EDT TS -- SF003R -- 6885 10/06/92 07:33 EDT