Here is update on sale (?) Pasadena Refinery to Petrobras – Texas Judge ordered Petrobras to pay Astra. <Since $370MM was what 50% stake was announced to be in Feb 2006 release (see News Post coking.com on 2/3/06 & 2/9/06) – I an not sure if $639MM was total value plant or if the other $299MM was for crude & product inventory at time sale.>
If Petrobras now have to actually “Pay” for the other 50% Refinery; it might shift timeline on the announced (Mar 9, 2010) upgrade plans which was to complete by 2014 (previous work on FCC had been shifted to 2011 – probably to integrate with this upgrading).
Really nice for change to see States/Texas legal system supporting US Refining Industry versus US/Fed System that lets foreign countries like Venezuela steal US Refining Industry without a word or judgement against them.
Regards
