feature story Texaco returns to retail fuel market in Brazil

Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, announces today a licensing agreement with Ipiranga, celebrating the return of the Texaco brand to fuel retail in Brazil. Chevron and Ipiranga are already partners in the Iconic Lubrificantes joint venture, which sells Ipiranga and Texaco brand lubricants, industrial greases and distributes Chevron base oils.

With the new agreement, Ipiranga will be licensed by Chevron Texaco to market and sell Texaco fuels with Techron in Brazil, focusing on a network of Texaco branded service stations across the country. Ipiranga will also operate convenience stores, under Chevron's Star Mart. This partnership is proof of Chevron's commitment to increasing its presence in the Brazilian market.

Chevron has a solid history of over 100 years in Brazil, initially selling Texaco products and focusing on oil and gas exploration and production since 1997 – currently exploring 19 deepwater blocks off the coast of Rio de Janeiro, São Paulo and Rio Grande do Sul. In addition to its interests in Iconic Lubrificantes For the Downstream & Chemicals segments, Chevron Oronite also operates a plant to produce additives for lubricants, at the Mauá Petrochemical Complex, in São Paulo.