CAIRO Aug 27 French oil major Total
said it had agreed to buy the Egyptian retail network of U.S.
energy company Chevron, in a move that it says will
create its biggest marketing and services subsidiary outside
Total said the network includes 66 service stations, two oil
depots, the aviation fuel operations at the Cairo airport and
aviation fuel operations at the Cairo and Marsa Alam airports.
Total made the purchase jointly with two Egyptian partners
Beltone Capital and Beltone Private Equity (BPE) Energy.
The Chevron network has annual sales of more than
1.4 million tons. The purchase is subject to approval by the
relevant authorities, Total said in a statement. It did not give
a value for the deal.