US major ChevronTexaco said its subsidiary, Caltex South China Investments Limited (CSCIL), and China’s CITIC Resources Holdings Limited (CITIC) have entered into a preliminary agreement in which CITIC has agreed to purchase a majority stake in CSCIL. The transaction, subject to CITIC shareholders approval, is a significant step in growing Caltex’s retail fuel business in…
CHINA: ChevronTexaco, CITIC Resources to expand Caltex retail operation in southern China
Posted on January 18, 2005 by EnergyAsia