Chevron to buy Petrobras Pasadena refinery for $350M

SAN RAMON, Calif. — Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corp., recently signed a share purchase agreement with Petrobras America Inc. to acquire all the outstanding shares and equity interests of Pasadena Refining System Inc., which includes the refinery in Texas and PRSI Trading LLC, for $350 million, excluding working capital.

Assets include a refinery with the capacity to process approximately 110,000 bpd of light crude, direct pipeline connections to increasing industry and equity crude oil production, and connections to major product pipelines, as well as waterborne access to receive and ship crude oil and refined products. The 466-acre complex comprises a 323-acre refinery, including a tank farm with a storage capacity of 5.1 million barrels of crude oil and refined products, as well as 143 acres of additional land.

For more information, visit www.chevron.com or call (925) 842-1000.

Share on facebook
Share on twitter
Share on linkedin
Share on email