Portuguese 
English 
Spanish 
2 min of reading 
Journalist Luís Nassif criticized the “disinformation campaign” involving Petrobras and claims that the refinery purchased in the United States (Pasadena) by the state-owned company is now a key piece in Chevron’s expansion strategy.
Chelon, the second largest energy company in the United States, has accumulated substantial stakes in the Permian and is among the largest producers in the region. After Petrobras purchased the refinery, the journalist stated that the oil company made a smart move entering the American market.
Read Also
- Petrobras Will Have to Prove to Chevron That the Pasadena Refinery Is Still Operational
- Transfer of Pasadena from Petrobras to Chevron Was Interrupted This Monday 01-04
- Sale of Pasadena Refinery Was Completed
- Petrobras Completes Sale of Pasadema Refinery for Less than Half the Value
Amid The Crisis, The Petrobras Refinery In Pasadena Is An Excellent Strategy
From a strategic standpoint, it can be asserted that the purchase of Petrobras’s refinery in Pasadena remains an excellent business decision, as it allows Petrobras to enter the American market with added value, even after the incidents in Venezuela. The former Petrobras refinery in Pasadena has the capacity to process approximately 110,000 barrels of light crude oil per day, as well as pipeline connections to major pipelines and production sites.
The complex of 466 acres also has waterway access to receive and ship crude oil and refined products for export. The tank farm has a storage capacity of 5.1 million barrels of crude oil and refined products, along with 143 acres of additional land.
-
Petrobras approved the final investment decision for SEAP I (Sergipe Deep Waters), opening a new production frontier in the Northeast: Total investment for the two modules (SEAP I + SEAP II) exceeds R$ 60 billion, with an estimated production of more than 1 billion barrels of oil equivalent.
-
Oil continues to fall as negotiations advance between the United States and Iran and the expectation of greater global geopolitical stability.
-
Oil sees sharp drop after rumors of a deal between the United States and Iran raise hopes for an end to the war in the Middle East.
-
Brazil’s oil production soars and hits an all-time high for the second consecutive month, driven by the pre-salt and the advancement of energy sector giants.
“This expansion of our Gulf Coast refining system allows Chevron to process more domestic light crude oil, supply part of our retail market in Texas and Louisiana with products produced by Chevron, and achieve synergies through coordination with our refinery in Pascagoula,” said Pierre Breber, Executive Vice President of Chevron Downstream & Chemicals in a statement.
Chevron Aimed to Boost Its Production
According to a study with Petrobras, Chevron aimed to boost production by expanding its Gulf Coast refining assets to process crude oil closer to its shale oil extraction operations.
As part of this plan, the work stated, “Chevron will acquire Pasadena Refining System Inc., the refining arm of the Brazilian state-owned company Petróleo Brasileiro SA – Petrobras, based in Texas, in a deal that includes the Pasadena refinery along the Houston Ship Channel in Texas.”
“A major selling point for [the Pasadena refinery] is its location adjacent to the Houston Ship Channel, which hosts four refineries and has excellent access to domestic crude oil supply and distribution of refined products,” said Sandy Fielden, project consultant.
Be the first to react!