You are currently viewing: News



30-01-2019

Chevron agrees with Petrobras to buy Pasadena Refinery System

Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation, today announced that it has signed a Share Purchase Agreement with Petrobras America Inc. to acquire all the outstanding shares and equity interests of Pasadena Refining System, Inc., which includes the refinery in Texas, and PRSI Trading, LLC for $350 million, excluding working capital.

“This expansion of our Gulf Coast refining system enables Chevron to process more domestic light crude, supply a portion of our retail market in Texas and Louisiana with Chevron-produced products, and realize synergies through coordination with our refinery in Pascagoula,” said Pierre Breber, Executive Vice President of Chevron Downstream & Chemicals.

Assets include a refinery with a capacity to process approximately 110,000 barrels per day of light crude, direct pipeline connections to increasing industry and equity crude oil production, connections to major product pipelines as well as waterborne access to receive and ship crude oil and refined products.  The 466-acre complex is in Pasadena, Texas.  It comprises a 323-acre refinery including a tank farm with a storage capacity of 5.1 million barrels of crude oil and refined products, as well as 143 acres of additional land.

The acquisition will add to the refining network of CUSA, which includes a refinery in Pascagoula, Miss., two facilities in California, in El Segundo and Richmond, and the Salt Lake refinery in Utah.

The acquisition is subject to customary closing conditions, including regulatory approvals.

Sponsor : 

Other News Items

Emerson speeds development and tuning of plant digital twins

A new release of Emerson’s Mimic™ Simulation Software makes it easier for plants to develop a more accurate digital twin. New modelling capabilities, usability ...

24-04-2019

Learning from the past, and looking to the future of downstream at Chevron

In a new headline address on June 12th in Houston, Chevron’s President of Manufacturing Mike Coyle will be announcing lessons learned over the last five years in ...

23-04-2019

Babcock brings ecoETHN™ a new ethane Boil Off Gas technology to market

Babcock International, a global leader in liquefied gas cargo handling systems, has added ecoETHN™, a patent pending ethane Boil Off Gas (BOG) reliquefaction technology, ...

23-04-2019

Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture

The Saudi Arabian Oil Company (Saudi Aramco) is to acquire Shell Saudi Arabia Refining Limited’s (Shell) 50% share of the SASREF joint venture in Jubail Industrial ...

21-04-2019

TOYO awarded propylene splitter project in Japan

TEC Project Services Corporation, a domestic subsidiary of Toyo Engineering Corporation was awarded a propylene splitter project from Maruzen Petrochemical Co., Ltd. ...

16-04-2019

Saudi Aramco to acquire stake in South Korean Hyundai Oilbank

The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramco’s subsidiary,  ...

16-04-2019

LyondellBasell grants 1100KTA Hostalen ACP licensed capacity to PetroChina

LyondellBasell, the world’s largest licensor of polyolefin technologies, today announced that PetroChina will use the LyondellBasell Hostalen “Advanced Cascade ...

16-04-2019

Chevron announces agreement to acquire Anadarko

Chevron Corporation announced today that it has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko ...

12-04-2019

Clariant’s new OxyMax® PA 690 catalyst excels in start-up at Petrowidada plant

Clariant, a focused and innovative specialty chemical company, today announced the successful start-up of its new high-yield OxyMax PA 690 catalyst at Petrowidada’s ...

11-04-2019

Delta Controls acquires the Mobrey range of instruments from Emerson

Delta Controls, based in Farnham, UK, announced today it has signed an agreement to purchase the Mobrey line of measurement products manufactured in Slough, UK from Emerson, ...

11-04-2019