Chevron completes purchase of Pasadena Refining System

Chevron USA completed its purchase from Petrobras America of all outstanding shares and equity interests of Pasadena Refining System, including a refinery in Pasadena, and PRSI Trading for $350 million.  The Pasadena complex of 466 acres includes a refinery of 110,000 b/d, 5.1 million barrels of oil and products storage capacity, marine terminal and logistics system.  Chevron executive vice president Mark Nelson said the acquisition enables the company “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.”