January 31, 2019 |
Brazil's Petrobras has agreed to sell a refinery in Texas to Chevron for $350m, subject to regulatory approval in Brazil and the United States, the two companies said in separate statements.
Along with the refinery that can produce 110,000 barrels per day of light crude oil, the deal includes a 466-acre complex in Pasadena with storage capacity for 5.1m barrels of crude oil and refined products, Chevron said.
The value of the deal rises to $562m when working capital is included, Petrobras said.
Brazil's state-owned energy company sells the Pasadena facility to Chevron for $350m