Inform
Chevron secures home for its Permian barrels
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Report summary
Event: On January 31, 2019, Chevron announced that it will acquire the Pasadena refinery from Petrobras for $350 million in equity and $212 million in working capital. Implications: Chevron's strategy in acquiring this asset likely hinges on integration, IMO spec changes, and the possibility of expansion and upgrades. The Pasadena refinery is among the lowest performing of Gulf Coast refineries at only $0.81/bbl in Net Cash Margin in 2017. Much of the reason for this is the simplicity of the refinery.
Table of contents
- Event:
- Implications:
Tables and charts
This report includes 1 images and tables including:
- Permian production and estimated refining consumption
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