18 September 2012 04:00 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Brazil state-run oil company Petrobras said on Monday it will maintain its investment in the Comperj Petrochemical Complex despite a news report saying the petrochemical parts of the massive project may be dropped.
According to a report by Brazilian newspaper O Estado de SP, the project could wind up as only a refinery.
As envisioned, Complexo Petroquimico do Rio de Janeiro (Comperj), would include two refineries and several petrochemical units to produce ethylene, propylene, polyethylene (PE), polypropylene (PP) and other chemicals.
As planned, the petrochemical units would be operated by Brazil’s Braskem. Start-up of the petrochemicals complex at Comperj was planned for 2016-2017.
However, O Estado reported that Petrobras’s “deal with the giant Braskem, announced two years ago, did not advance.”
According to the newspaper Petrobras said “contracts between Petrobras and Braskem regarding Comperj are still being negotiated … and should go public as soon as they’re confirmed”.
The newspaper noted that that Braskem was now focusing many of its projects in the US and Mexico.
Petrobras said on Monday it would maintain its investments in the Comperj project. It said the first 165,000 bbl/day refining train would begin operating by 2015 and a 300,000 bbl/day train should begin operating by 2018.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections