Petrobras to expand Texas refinery to 150,000 bpd

NEW YORK (Reuters) - Brazil's state-run oil company Petrobras (PBR.N: Quote, Profile, Research, Stock Buzz)(PETR4.SA: Quote, Profile, Research, Stock Buzz) said on Monday it plans to boost capacity at the Pasadena, Texas, refinery to 150,000 barrels per day to from the current 100,000 bpd.

"Our focus in the U.S. is on refinery. We are planning to expand our capacity in Pasadena to 150,000 barrels per day from the current 100,000," said Jose Gabrielli de Azevedo, Petrobras Chief Executive Officer. "We will continue to look for opportunities in this area in the U.S,, but we haven't decided if Petrobras will increase further the capacity in Pasadena or if we will buy other refineries."

Gabrielli said Petrobras also was still in discussions about refinery interests in Colombia, where Petrobras is seeking partnership with Colombia's Ecopetrol to expand the Cartagena refinery, and in Asia. Gabrielli did not provide specifics on timing for the Pasadena expansion.

In February, Petrobras agreed to pay about U.S. $370 million for a 50 percent stake in the Pasadena Refinery System Inc. from Astra Oil Trading NV. The refinery that was formerly known as the Crown Refinery will be operated jointly by Petrobras and Astra.

The 100,000-bpd refinery is currently being upgraded to meet new U.S. clean air standards for gasoline.

Petrobras has said previously it plans to have the Pasadena refinery able to process heavy oil and feedstock, including output from Petrobras's Marlim oil field in Brazil.