Petrobras Will Have to Prove to Chevron That the Pasadena Refinery Is Still Operational

Written by Paulo Nogueira

Published on 23/04/2019 at 08:29

Updated on 23/04/2019 at 08:34

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One Day After The Reforms And Maintenance Of The Pasadena Refinery Began, Chevron Decided To Halt The Transfer And Ask Petrobras To Prove That The Facility Will Function As Promised After The Deal Is Closed, Says Sources Linked To The Market

Chevron Corp demanded from the Brazilian state-owned company Petrobras proof that the much-discussed Pasadena refinery is still operational before taking full ownership of the facility in Texas, according to sources linked to this market. As We Reported Here On The Portal In January 2019, Chevron announced in international trade media that it would acquire the Pasadena Refining System Inc (PRSI) for US$ 350 million. It was designed to process about 112,229 barrels of oil per day and is still owned by Petrobras.

On April 2, the transfer to Chevron ended up being aborted, just as the refinery had started the reforms and maintenance one day earlier.

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Paulo Nogueira

“We Still Expect The PRSI Transaction To Close This Quarter,” Said Chevron Spokesman Braden Reddall On Monday.

No spokesperson for Petrobras has commented at this time.

Last Friday, PRSI presented to the Texas Commission on Environmental Quality (TCEQ) That It Was Resuming The Fluid Catalytic Cracking Unit of 56,000 bpd.

But last Saturday, it ended up being shut down. The Reforming Unit Converts Refining Byproducts Into Octane-Enhancing Components Combined With Gasoline.

Petrobras Will Have to Prove to Chevron That the Pasadena Refinery Is Still Operational

One Day After The Reforms And Maintenance Of The Pasadena Refinery Began, Chevron Decided To Halt The Transfer And Ask Petrobras To Prove That The Facility Will Function As Promised After The Deal Is Closed, Says Sources Linked To The Market

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