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The announcement comes as Petrobras, under the leadership of new chief executive Pedro Parente, is still reeling from revelations of widespread corruption and a severe recession in Brazil that forced the company to find outside cash to pay down its ballooning0 billion in debt.

The company didn't say how much it expected to get for the refinery, but it appears likely to be far less than the

The announcement comes as Petrobras, under the leadership of new chief executive Pedro Parente, is still reeling from revelations of widespread corruption and a severe recession in Brazil that forced the company to find outside cash to pay down its ballooning$120 billion in debt.The company didn't say how much it expected to get for the refinery, but it appears likely to be far less than the $1.2 billion that Petrobas paid for it.When times are tough you find out how firm a foundation people have been living on.

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The announcement comes as Petrobras, under the leadership of new chief executive Pedro Parente, is still reeling from revelations of widespread corruption and a severe recession in Brazil that forced the company to find outside cash to pay down its ballooning$120 billion in debt.

The company didn't say how much it expected to get for the refinery, but it appears likely to be far less than the $1.2 billion that Petrobas paid for it.

.2 billion that Petrobas paid for it.

Whoever buys the refinery also will likely face the legal entanglements of two separate lawsuits filed this spring by Harris County and environmental groups against Petrobras' Pasadena Refining System, which runs the facility.

"That plant probably needs a whole lot of work," said Rock Owens, managing attorney of the Harris County Attorney's Office environmental group.

Brazilian prosecutors have alleged that the plant's previous owner, the Belgian company, Transcor Astra Group, paid bribes to Brazilian and Petrobras officials to secure a massive overpayment in the refinery's acquisition price.

The $1.2 billion, paid between 20 was a 3,000 percent premium to the $42.5 million Transcor Astra paid in 2005, authorities alleged.

There is an ongoing criminal probe into the Pasadena deal as part of a larger Brazilian investigation into Petrobras transactions and allegations of bribery.

(Michael Ciaglo / Houston Chronicle) less A refinery owned by Petrobras, the Brazilian government's state-controlled oil producer, rises up off Red Bluff Road Tuesday, Oct. Petrobras paid more than

(Michael Ciaglo / Houston Chronicle) less A refinery owned by Petrobras, the Brazilian government's state-controlled oil producer, rises up off Red Bluff Road Tuesday, Oct. Petrobras paid more than $1 billion to buy the refinery ...Still, he added, "we would certainly want to talk to the buyer to find out what their intention was before we ran out and sued them." In a separate suit filed in March, two environmental groups — Environment Texas and Sierra Club — argued the refinery routinely exceeds its emissions limits for levels of soot, sulfur dioxide and other pollutants."It stands out as one of the worst-run and dirtiest facilities in Texas," said Luke Metzger, founding director of the advocacy group Environment Texas in Austin.Start the journey by taking the e Harmony Personality Profile and get feedback that details how you relate to other California singles.Then read your FREE Compatibility profile® and meet California singles that are truly right for you.This suit was filed under a provision of the federal Clean Water Act that allows citizens to file lawsuits against companies they believe are in violation of federal environmental laws.

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(Michael Ciaglo / Houston Chronicle) less A refinery owned by Petrobras, the Brazilian government's state-controlled oil producer, rises up off Red Bluff Road Tuesday, Oct. Petrobras paid more than $1 billion to buy the refinery ...

Still, he added, "we would certainly want to talk to the buyer to find out what their intention was before we ran out and sued them." In a separate suit filed in March, two environmental groups — Environment Texas and Sierra Club — argued the refinery routinely exceeds its emissions limits for levels of soot, sulfur dioxide and other pollutants.

"It stands out as one of the worst-run and dirtiest facilities in Texas," said Luke Metzger, founding director of the advocacy group Environment Texas in Austin.

Start the journey by taking the e Harmony Personality Profile and get feedback that details how you relate to other California singles.

Then read your FREE Compatibility profile® and meet California singles that are truly right for you.

This suit was filed under a provision of the federal Clean Water Act that allows citizens to file lawsuits against companies they believe are in violation of federal environmental laws.

||

(Michael Ciaglo / Houston Chronicle) less A refinery owned by Petrobras, the Brazilian government's state-controlled oil producer, rises up off Red Bluff Road Tuesday, Oct. Petrobras paid more than $1 billion to buy the refinery ...

Still, he added, "we would certainly want to talk to the buyer to find out what their intention was before we ran out and sued them." In a separate suit filed in March, two environmental groups — Environment Texas and Sierra Club — argued the refinery routinely exceeds its emissions limits for levels of soot, sulfur dioxide and other pollutants.

"It stands out as one of the worst-run and dirtiest facilities in Texas," said Luke Metzger, founding director of the advocacy group Environment Texas in Austin.

Start the journey by taking the e Harmony Personality Profile and get feedback that details how you relate to other California singles.

billion to buy the refinery ...Still, he added, "we would certainly want to talk to the buyer to find out what their intention was before we ran out and sued them." In a separate suit filed in March, two environmental groups — Environment Texas and Sierra Club — argued the refinery routinely exceeds its emissions limits for levels of soot, sulfur dioxide and other pollutants."It stands out as one of the worst-run and dirtiest facilities in Texas," said Luke Metzger, founding director of the advocacy group Environment Texas in Austin.Start the journey by taking the e Harmony Personality Profile and get feedback that details how you relate to other California singles.Then read your FREE Compatibility profile® and meet California singles that are truly right for you.This suit was filed under a provision of the federal Clean Water Act that allows citizens to file lawsuits against companies they believe are in violation of federal environmental laws.

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