Engen buys Chevron assets in 3 countries

South African fuel retailer Engen Petroleum Ltd. has concluded deals to buy Chevron Corp.’s retail service stations and other downstream assets in Malawi, Zambia and the island of Reunion. The purchases are part of an agreement signed in September for the unit of Malaysia’s Petroliam Nasional Bhd to buy Chevron assets in seven countries, including Mauritius, Mozambique, Tanzania and Zimbabwe. The acquisition in Zambia extends Engen’s presence there with a further 24 service stations and lubricant sales. It has been in the country since 1998 and has 10 service stations, a bulk fuel depot and a lubricants warehouse. The Malawi operations include a network of 15 service stations and lubricant sales, while in Reunion the operation has 32 service stations and a lubricants marketing business. Engen has over the last four years bought downstream assets from other international oil marketing companies in Burundi, the larger Congo, Gabon, Guinea Bissau, Lesotho and Rwanda. (December 1, 2010)