This excerpt taken from the PBR 6-K filed Nov 17, 2006.
(viii) Investments in United States
On September 1, 2006, PETROBRAS, via its indirect subsidiary Petrobras América Inc., concluded the acquisition of 50% interest of the refinery Pasadena Refining System Inc. (PRSI), owned by Astra Oil Trading NV. The final investment was approximately US$ 415,8 million.
The PRSI refinery has a capacity for 100.000 bbl/day and is currently undergoing a moderization process in order to comply with the new environmental standards established by the Environmental Protection Agency (EPA) for gasoline.
With PETROBRAS entering as a partner in the enterprise, the refinery will be modified in order to process approximately 70.000 bbl/day of heavy oil and other batches, including production in the Marlim field. The refinerys operational modernization process should be completed in four years and all of the oil products to be produced will comply with the highest standards of quality adopted in the United States.