Chevron to add Texas refinery in $350 million deal. Chevron Corp. announced late Wednesday that its Chevron U.S.A. Inc. (CUSA) subsidiary has signed a share purchase agreement to buy Pasadena Refining System, Inc. from Petrobras America Inc. for $350 million. The acquisition, subject to regulatory approvals and other closing conditions, would add the 110,000-barrel per day Pasadena Refinery near Houston and PRSI Trading, LLC to Chevron’s holdings. It would also give CUSA its second Gulf Coast refinery. Currently, CUSA’s refining network includes facilities in Pascagoula, Miss. , Salt Lake City, Utah, and El Segundo and Richmond in California. “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,” Pierre Breber, executive vice president of Chevron Downstream & Chemicals, said […]