BP plc, London, England, has agreed to purchase Chevron’s manufacturing company, Texaco Raffinaderij Pernis BV, Europoort in Rotterdam, the Netherlands, for around $900 million, excluding working capital and hydrocarbon inventory.
BP said it will acquire Chevron’s 31 per cent minority shareholding in the Netherlands Refining Co, Chevron’s stake in the jointly owned wind farm located at the refinery, and their shareholdings in the nearby TEAM crude oil terminal and storage facility, as well as a number of associated pipelines.
The completion of the transaction is expected during the first half of this year.