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Petrobras sells Texas refinery to Chevron for $350MM

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Chevron USA agreed to buy a crude refinery in Pasadena, Texas, from Petrobras from $350 million. The deal gives Chevron its first refinery in Texas and its second on the Gulf Coast, while Petrobras retrieves some cash to cut debt.Petrobras announced last May that the refinery no longer fit the Brazilian company’s long-term plans. Kinder Morgan Inc. and Petrobras later held talks about making the terminal a JV, but KMI pulled out, Reuters reported.......
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