Brazil’s Braskem still studying its role in Comperj project

18 September 2012 22:34  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil’s Braskem said on Tuesday it was still studying proposed petrochemical projects at the Comperj site, following news reports that cast doubt on the future of such projects.

"Braskem clarifies that there wasn't any change regarding Comperj and the leadership of Braskem on the petrochemical part of the project," the company said in a statement. "The project remains under a study phase."

Brazilian newspaper O Estado de Sao Paulo earlier reported the Complexo Petroquimico do Rio de Janeiro (Comperj) could wind up only as a refinery.

The newspaper said Braskem and Brazilian oil producer Petrobras have yet to finalise a deal on Comperj some two years after the agreement was announced.

Braskem, which is part-owned by Petrobras, was seen as the partner on a polyolefins project.

As envisioned, Comperj would include two refineries and several petrochemical units to produce ethylene, propylene, polyethylene (PE), polypropylene (PP) and other chemicals.

Start-up of the petrochemicals complex at Comperj was planned for 2016-2017.

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.

By: Leo Siqueira
+1 713 525 2600

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