Strikes at Brazil's Comperj lower Petrobras Q1 investments

17 May 2012 23:18  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--The strikes at Petrobras's Comperj construction site during the first three months of 2012 helped cause its investment spending to drop in the first quarter, the company said on Thursday.

First-quarter investments fell by 17% from the fourth quarter, the company said.

According to Petrobras’s supply director, Jose Carlos Cosenza, the reduction was caused mainly by the strikes at the Comperj petrochemical complex. He made his comments during an earnings conference call.

When completed, the Complexo Petroquimico do Rio de Janeiro (Comperj) will have two refineries as well as several units that will produce olefins, aromatics, polyolefins and glycols.

By: Leo Siqueira
+1 713 525 2600

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