Pasadena Refining System
Pasadena Refining System, Inc. (PRSI) is a refinery company. The company has its headquarters in Pasadena, Texas, United States. As of 2008 it is a 50-50 partnership between Petrobras and Astra Holding USA, the USA subsidiary of NPM/CNP, and it is Petrobras's only American oil holding.
In 2006 Petrobras bought a 50 percent stake in Pasadena Refinery System for $360 million. In 2007 Petrobras engaged in negotiations with Astra Holding in an attempt to buy the other half. After a prolonged legal battle, Petrobras and Astra announced that they reached a settlement in 2012 under which Petrobras will pay $820.5 million for the remaining stake. By that time refinery prices in the United States had collapsed and the contract made in 2006 resulted in an unusually high settlement.
- "Fluor selected by Petrobras Affiliate for refinery study in the U.S." Scandinavian Oil-Gas Magazine. February 4, 2010. Retrieved on August 9, 2010.
- "Contact Us." Pasadena Refinery System. Retrieved on August 9, 2010.
- Woodall, Bernard. "INTERVIEW-Petrobras to slowly expand role in U.S." Reuters. Friday May 16, 2010. Retrieved on August 9, 2010.
- "Petrobras buys 50 percent stake in Pasadena refinery." Houston Business Journal. Wednesday September 20, 2006. Retrieved on August 9, 2010.
- "Petrobras in talks to buy US refinery's other half." Reuters. Friday December 21, 2007. Retrieved on August 9, 2010.
- "Petrobras says to pay Astra $820 mln for refinery
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