Oil supermajor Chevron’s Chevron U.S.A. unit said it’s completed the $350 million buy from Petrobras America of all outstanding shares and equity interests of Pasadena Refining System (Prsi) and Prsi Trading, Kallanish Energy reports.
Prsi’s 466-acre complex in Pasadena, Texas (near Houston), adds a second refinery to Chevron USA’s Gulf Coast downstream business, which also includes a refinery in Pascagoula, Mississippi.
“This acquisition builds on the strength of our existing Gulf Coast business, enabling us to supply more of our retail market in the region with Chevron-produced products, and positions us for connectivity to our strong upstream assets in the Permian Basin,” said Mark Nelson, Chevron’s executive vice president for Downstream & Chemicals.
The Pasadena refinery’s capacity is roughly 110,000 barrels per day of light crude, and features direct pipeline connections to crude oil production, connections to major product pipelines, and dock access to receive and ship crude oil and refined products.
It includes a 323-acre refinery, including a tank farm with storage capacity of 5.1 million barrels of crude oil and refined products, as well as 143 acres of additional land for future expansion.
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