Chevron closed a $350 million deal to buy the Pasadena refinery owned by Petrobas last week. Petrobas is the Brazilian state oil company.
The 466-acre Pasadena complex is Chevron’s first facility in Texas, second facility on the Gulf Coast.
The refinery can process more than 100,000 barrels a day of light crude oil.
The Pasadena refinery was at the center of a corruption probe by the Brazilian government.
Source: Chron.com, “Chevron closes $350M deal to buy Pasadena refinery,” by Marissa Luck, May 2, 2019