Petrobras to expand Texas refinery to 200,000 bpd
Tue May 23, 2006 1:54pm ET
NEW YORK, May 23 (Reuters) - Petrobras plans to double the capacity at its refinery in Pasadena, Texas, to 200,000 barrels per day, Brazil's state-run oil company said Tuesday.
The boost in capacity is expected to occur in four to five years, Chief Executive Jose Gabrielli de Azevedo said after an analyst presentation in New York.
The company had said in March that capacity at the refinery, located in a Houston suburb, would be increased to 150,000 bpd from 100,000 bpd.
Petrobras earlier this year agreed to buy a 50 percent stake in Pasadena Refinery System Inc. from Astra Oil Trading NV for about $370 million. The refinery, formerly known as the Crown Refinery, will be operated jointly by Petrobras and Astra.
The refinery is being upgraded to meet new U.S. clean air standards for gasoline. The company has said the refinery will be able to process heavy oil and feedstock, including output from Petrobras's Marlim oil field in Brazil.
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