Total to buy Chevron’s Pakistan retail network

Total and its joint venture partner have agreed to buy Chevron Corp.’s retail distribution business in Pakistan, following a similar move by the French energy giant to buy the U.S. firm’s Egyptian retail business in August.
Total-PARCO Pakistan Limited, a joint venture between Total and Pak Arab Refinery Limited (PARCO), will acquire Chevron’s fuel marketing, logistics and aviation business in Pakistan. The business includes 538 petrol stations.
Total did not provide a value for the transaction. A spokesman for Chevron was not available for comment.
Chevron operates under the Caltex brand in Pakistan and also has a lubricant business which was not included in the sale.