Petrobras to sell refinery in Argentina

Petrobras Energia SA has approved terms of the sale of its small refinery in San Lorenzo, Argentina, to Oil Combustibles SA in a transaction valued at $110 million.

By OGJ editors
HOUSTON, May 5
-- Petrobras Energia SA has approved terms of the sale of its small refinery in San Lorenzo, Argentina, to Oil Combustibles SA in a transaction valued at $110 million.

The refinery has 37,600 b/d of crude capacity, 16,000 b/d of vacuum distillation, and 3,500 b/d of thermal capacity.

The deal covers the refinery, a river unit, and a marketing network including 360 service stations. The reported offer includes $36 million for the physical assets and about $74 million in inventories.

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