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Pasadena Refining System, Inc. (PRSI) is an independent refiner and
marketer of petroleum products, including petrochemical feedstock
with a related crude oil capacity of just over 100,000 barrels per
day. PRSI is located on the Houston Ship Channel.
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3/12/2010 |
US Court reasserts the decision about Pasadena Refinery
Petrobras informs that on March 10, 2010, the United States District Court for the South District of Texas confirmed an arbitration award issued on April 10, 2009 that found that Petrobras America Inc. (PAI), an indirect affiliate of Petróleo Brasileiro S.A. – Petrobras, acquired 100% of the interest held by Astra Oil Trading NV (Astra) in the Pasadena Refining System, Inc. (PRSI) and PRSI’s related trading company (Trading Company).
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4/16/2009 |
Arbitrage chamber sets the put option price for the Pasadena Refinery
The decision handed down in an arbitral process – carried out pursuant to the rules set forth by the International Centre for Dispute Resolution – set the amount of $466 million, to be paid by Petrobras America (a wholly-owned Petrobras subsidiary) to Transcor Astra Group (Astra) as a result of the latter having exercised its put option for 50% of its interests in Pasadena Refining System Inc (PRSI) and in the PRSI Trading Company.
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10/31/2008 |
Arbitration Chamber hands down a decision regarding the Pasadena refinery
Petrobras informs that an interim award issued in connection with the arbitration process brought to the International Centre for Dispute Resolution between its wholly-owned subsidiary Petrobras America Inc. (PAI) and Astra Oil Trading NV (Astra), which own the Pasadena Refining System Inc. – PRSI, located in Texas, handed down on October 24 2008, held that the put option was validly exercised by Astra against PAI, for the sale of its stakes in PRSI to Petrobras America. |
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7/3/2008 |
Petrobras informs about litigation involving refinery in the US
Petrobras announces that initiated arbitrage proceedings against Transcor Astra Group on June 19, 2008 to resolve issues regarding Transcor Astra's failure to comply with its obligations regarding the operation of two Petrobras/Transcor Astra jointly owned U.S. companies in Texas, PRSI and PRSI Trading Company, which operate a refinery and trading company.
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09/20/2006 |
Petrobras' president formalizes refinery purchase in the US
Petrobras' president, José Sérgio Gabrielli de Azevedo, formalized, Tuesday (19/9), the company's purchase of a 50% participation in the Pasadena refinery, in Texas, United States. |
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