<\/p>\n
JAPANESE ENERGY GROUP Eneos Holdings, Inc. will acquire the fuel and lubricant marketing businesses of Chevron Corp. across the Asia-Pacific region in a $2.17-billion deal that features operations within the Philippines.<\/span><\/p>\n In an e-mailed statement on Thursday, Eneos said it has signed share purchase agreements with Chevron units covering fuel distribution and retail operations in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia.<\/span><\/p>\n The transaction will likely be executed through a special purpose vehicle to be established in Singapore by Eneos. Through this structure, Eneos will acquire full ownership of Chevron Singapore Pte. Ltd., Chevron Malaysia Ltd., Chevron Philippines, Inc., Chevron Australia Downstream Holdings Pty Ltd. and PT Chevron Oil Products Indonesia.<\/p>\n Eneos will even buy a 50% nonoperated stake in Singapore Refining Co., a three way partnership between Singapore Petroleum Co. Ltd. and Chevron Singapore.<\/p>\n The deal marks Eneos\u2019 first entry into overseas fuel retail and marketing operations outside Japan and is predicted to be accomplished next 12 months.<\/p>\n \u201cThis investment represents a major step in strengthening the business platform that connects Japan with Southeast Asia and Oceania,\u201d Eneos Chief Executive Officer Tomohide Miyata said.<\/p>\n He said the corporate goals to expand its fuel supply and trading network by combining operations across the region with its existing business base in Japan.<\/p>\n Eneos Holdings, founded in 1888, operates in petroleum, natural gas, electricity, city gas and renewable energy. The corporate said the acquisition would help it capture demand growth in Southeast Asia and Australia, while fuel consumption in Japan continues to say no.<\/span><\/p>\n \u201cBy integrating the overseas assets to be acquired with our existing business platform in Japan, we’ll optimize our supply chain and contribute to a stable energy supply within the Asia-Pacific region over the medium to long run,\u201d Eneos said.<\/span><\/p>\n Andy Walz, president of Chevron\u2019s downstream, midstream and chemical business, said the corporate\u2019s greater than 90 years of operations within the region have supported customers and communities through the Caltex brand.<\/p>\n Chevron is one in all the world\u2019s biggest integrated energy firms, producing crude oil and natural gas and selling refined fuels and lubricants globally.<\/span><\/p>\n Chevron entered the Philippines in 1917 and operates nearly 600 Caltex service stations and 20 supply facilities nationwide. \u2014 Sheldeen Joy Talavera<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The newly opened Caltex station in Barangay Masipit, Calapan City, Oriental Mindoro is able to serve quality fuels and lubes to locals and travelers alike. JAPANESE ENERGY GROUP Eneos Holdings, Inc. will acquire the fuel and lubricant marketing businesses of Chevron Corp. across the Asia-Pacific region in a $2.17-billion deal that features operations within the […]<\/p>\n","protected":false},"author":1,"featured_media":336179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[51825,5996,987,51824,51823,3583],"class_list":["post-336178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-2-17b","tag-assets","tag-buy","tag-chevron","tag-eneos","tag-fuel"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/336178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=336178"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/336178\/revisions"}],"predecessor-version":[{"id":336181,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/336178\/revisions\/336181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/336179"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=336178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=336178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=336178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}