Chevron to buy Texas refinery from Brazil's Petrobras: sources

[HOUSTON] Chevron Corp has agreed to buy a Texas oil refinery with a troubled past and space to handle a coming flow of shale from its West Texas operations, two sources familiar with negotiations said on Monday.

The US oil major is expected to disclose the deal to acquire a 112,000 barrel-per-day (bpd) refinery in Pasadena, Texas, this quarter, the sources said. The plant is operated by Pasadena Refining System Inc, a Texas-based unit of Brazil's state-run oil firm Petroleo Brasileiro SA.

REUTERS