Search:  
Western Cape Business News
801
VIEWS

Send  Share  RSS  Twitter  05 Sep 2010

PETROCHEMICALS: Chevron Gets Thinner

 



Recent Western Cape Business News

Cape Town-based Chevron, through three of its subsidiaries, has entered into initial sale agreements with Engen for its shareholdings in its companies in Malawi, Zimbabwe, Zambia, Tanzania, Mauritius and Reunion, as well as its assets in Mozambique. The deal reflects Chevron’s global strategy to run a less complex and more highly focused Downstream organisation. The sales are expected to close once regulatory and government approvals have been received.

This deal does not affect Chevron’s operations in South Africa, Botswana, Namibia and Swaziland.

James Seutloadi, Chairman of Chevron South Africa, said: “Chevron remains committed to South Africa and we will continue to market our brands and supply our business partners with the products and services they have come to expect from us.

Chevron’s continued presence in South Africa is consistent with our Downstream strategy of improving base business returns and growing selectively, with a focus on integrated value creation. In South Africa, Chevron is focused on optimising its businesses to increase profitability and deliver stronger competitive performance and return on investment,” Seutloadi said.


 
 
 
Business Profilescalvert-gasAfriwire and Steel (Pty) Ltdweb-design-cape-townrock-art-gallery
 
   
 
 
 
  Accomodation
Accommodation


Online Foreign Exchange
Foreign Exchange


Directory
Directory


Fax
Fax 2 Email


Finance
Finance


Furniture
Furniture


Casino
Online Casino


Restaurant
Restaurant


Auctions
Shop Online


Study IT
Study IT Online


Web design
Web Design


Weddings
Weddings


Work
Work from Home
 
 
 
 
 
Company News
 
 

 

© 2019 www.wcbn.co.za. All rights reserved.

Daily Newsletter Subscription

 

Subscribe to the Western Cape Business News Daily News and information email (it's free).

Thank You
Your email address has been added.

Name:
Email Address: