Texaco brand returns to Brazilian fuel retail market

Chevron Brands International LLC, a subsidiary of Chevron Corporation, one of the world’s leading integrated energy companies, has entered into a trademark licensing agreement with Ipiranga, marking the return of the Texaco brand to fuel retailing in Brazil. Under this agreement, Ipiranga will market and sell Texaco fuels with Techron and operate Texaco-branded service stations across the country. Additionally, Ipiranga will manage convenience stores under Chevron’s Star Mart brand.

Strategic partnership

“This partnership is a testament to Chevron’s commitment to grow its presence in the Brazil market. We plan to continue building Texaco’s brand strength in close collaboration with Ipiranga,” said Tracey Gardiner, vice president of Americas Lubricants at Chevron. “Through a network of fuel retail sites nationwide, the Texaco brand promises fuels with Techron and services to meet the needs of our customers both in their vehicles and in their lives. We look forward to a long and successful partnership to bring affordable energy and an international seal to customers in Brazil.”

For Ipiranga, the agreement presents a significant opportunity to enhance its market presence with a globally recognised brand. Bárbara Miranda, vice president of Marketing and Business Development at Ipiranga, stated, “It is an interesting complementary opportunity for our gas station network, especially in markets where we already have a strong density with the presence of the Ipiranga brand. We will make use of our expertise, infrastructure, and credibility to support the return of a brand that has a history of success in the Brazilian market.”

Ipiranga has been a key player in the mobility journey of millions of Brazilians for over 86 years. The company operates around 6,000 stations and serves 6,800 large customers with a comprehensive portfolio of products and services for industrial transport, logistics, and cargo activities. The company manages the largest franchise brands in the convenience and oil change segments, AmPm and Jet Oil, and runs one of Brazil’s largest loyalty programs, KMV, with 38 million participants.

Existing collaboration

Chevron and Ipiranga already collaborate through the Iconic Lubrificantes joint venture, which sells Ipiranga and Texaco branded lubricants and industrial greases, and distributes Chevron base oils. Chevron has a longstanding history in Brazil, initially selling Texaco products more than 100 years ago, and focusing on upstream activities since 1997. The company currently holds interests in 19 oil and gas exploration and production blocks off the coasts of Rio de Janeiro, São Paulo, and Rio Grande do Sul. In addition to its stakes in Iconic Lubrificantes, Chevron operates an Oronite additives plant for lubricants in the Mauá Petrochemical Complex in São Paulo.