Brazil’s state-controlled oil company has started taking steps to sell its Pasadena, Texas, refinery. The refinery is in the middle of Brazil’s largest corruption scandal.
The company, known as Petrobras, said it would be opening a non-binding phase to start negotiations for the 110,000-barrels-per-day processing unit.
The Pasadena refinery has been involved in several investigations in Brazil. It’s suspected that bribes were paid to Petrobras executives as a result of the purchase of the Pasadena facility in 2006.
The purchase of the Pasadena refinery was one of several targets of prosecutors in the Car Wash investigation, which is centered on the state-controlled oil company. The company lost billions of dollars as a result of widespread corruption.
The Brazilian oil company said it would also be selling other companies that are linked to the refining complex.
Source: Reuters.com, “Petrobras to sell Pasadena, Texas, refinery,” February 6, 2018