Chevron is conducting a sale process for its downstream assets in both Egypt and Pakistan. The company’s assets in these countries include refining, marketing and distribution of products, but lubricants are not included in such potential sale.

Brent Tippen, Chevron Media & External Communications spokesman told OEM/Lube News "Chevron constantly reviews its operations around the world to improve shareholder value. As part of Chevron’s global strategy to create a less complex downstream organization that delivers stronger competitive performance and return on investment, Chevron is currently conducting a review of its fuels operations in Egypt and Pakistan. This includes our shareholding in Pakistan Refinery Limited, as well as fuels marketing, in Egypt and Pakistan. Our Egypt and Pakistan Lubricants business is not included in the review. To confirm, this process is to review alternatives for our fuels operations in Egypt and Pakistan. No decision has been made to sell any assets."

According to the local media, Chevron has received at least three non-binding bids for the assets from interested parties, which include regional and international energy companies, with the planned sale seen raising around $300 million.