Transcor And Petrobras Fight Over Texas Refinery

Law360 (July 3, 2008, 12:00 AM EDT) -- Belgian oil trading and refining company Transcor Astra Group SA and Brazilain oil company Petrobras are fighting over an oil refinery in Pasadena, Texas.

Transcor Astra Group, a subsidiary of NPM/CNP, sued Petroleo Brasileiro SA-Petrobras on Tuesday in the U.S. District Court for the Southern District of Texas.

The suit alleges that Petrobras breached its obligations under a purchase agreement and caused Transcor damages amounting to over $787 million.

In January 2005, a subsidiary of Transcor purchased a 100% interest in the Pasadena refinery from Crown...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.