US Chevron to make Morocco its lubricants export hub to Africa

US energy giant Chevron signed a deal with Morocco’s Akwa Group to make the Kingdom its lubricants manufacturing and exporting hub to Africa.

An agreement was signed in that regard between Chevron and Akwa Group, bringing the share of Chevron from 25% to 50% of Akwa Group subsidiary Afriquia Lubrifiants.

Under this deal, Chevron will manufacture Texaco lubricants in Morocco and export them to 14 African countries through the setting up of a manufacturing plant in Jorf Lasfar.

Afriquia Lubricants will benefit from technology transfer and
boost its standing as an African leader in lubricants, as well.

Exports of high quality lubricants are estimated at 600,000 tons annually, according to an Akwa Group statement.