Chevron acquires Pasadena Refinery

The Pasadena refinery was sold to the American company Chevron in the amount of us $562 million, with us $350 million for the stock value and US $212 million equivalent to the working capital. The commercialization had been announced in January due to the 2019-2023 Petrobras Partnership and disinvestment program.

The general Superintendence of the Administrative Council for Economic Defense (Cade) allowed the refinery to be obtained. In principle, the decision is final, but if any advisor of the organ asks for a deeper analysis, the process will be forwarded to the Cade court. According to Petrobras, the refining market will not be affected and exports in Brazil suffer little impact with the sale of this refinery.

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