Chevron has reportedly agreed to purchase the Pasadena Oil Refinery in Texas, US, from Petrobras subsidiary Pasadena Refining System.

With a capacity of 112,000bpd, the refinery would cost $1.18bn for Petrobras to purchase.

The Texas-based refinery is spread over an area of 192 acres on the Houston Ship Channel, apart from which Chevron will also acquire additional 274 acres of marine export terminal and other available land in the site.

The acquisition is part of Petrobras’ efforts to raise $21bn through asset sales in order to reduce its debt.

Chevron is an American energy corporation, while Petrobras is a Brazilian oil company.

Hillcrest Petroleum and Xstate Resources have signed a memorandum of understanding (MoU) to look for potential onshore oil and gas asset acquisitions in the US and Canada.

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Hillcrest owns oil and gas assets in the Western Canada Sedimentary Basin, while Xstate holds several oil and gas projects in the US.

“The acquisition is part of Petrobras’ efforts to raise $21bn through asset sales in order to reduce its debt.”

Canada-based Hillcrest Petroleum is an oil and gas production company, while Xstate Resources is an Australian company focused on the oil and gas sector.

Shizuoka Gas has signed a sales and purchase agreement with Clean Energy for the supply of LNG from Shimizu LNG Terminal in Chubu, Japan.

Based on the contract, the LNG will be delivered from Japan via ISO tank containers to Taishan Gas Group and Rizhao Public Transport Group in China.

The LNG deliveries will be regulated by Clean Energy and Ants Energy, two LNG selling subsidiaries of Dalian Inteh. The agreement will help Clean Energy in meeting the growing LNG needs of China.

Shizuoka Gas is a Japan-based electric power and gas company, while Dalian Inteh is a shipping and logistics company based in China.