Chevron agreed to sell its Caribbean subsidiary.

Carey Energy of New York will buy Caribbean Gulf Refining from Chevron for about $90 million, including working capital, officials of the San Francisco-based company said. The transaction is part of a continuing effort by Chevron to streamline operations and reduce debt following the company’s merger with Gulf Oil in 1984. Carey, a privately held firm, has indicated that it will maintain current employment levels, according to Chevron.