According to Mr. Figueiredo, an innovative solution was developed at the end of the last decade between the petrochemical company and Petrobras, the only supplier of naphtha in Brazil. With a defined ten-year horizon, the naphtha delivery contract has preserved not only the present, but also the future of a segment characterized by its capital intensity and its long maturation. “This period provides enough time for the preparation of studies and projects, the construction and commissioning of companies capable of making important investment decisions,” he argues. Brazilian Petrobras, Braskem sign a five-year naphtha delivery contract These ceilings and ground limits were based on the cost of naphtha exports and imports. “In a long time horizon, margins would sometimes be shared with the oil group and sometimes with petrochemical companies. To address this imbalance in the fuel industry, which is not related to the petrochemical industry, Petrobras has taken a unilateral decision to use the petrochemical naphtha to increase gasoline production. In the petrochemical industry, the emergence of competitiveness undoubtedly implies the definition of a contract for the supply of raw materials. To get an idea, the cost of naphtha can be up to 75% of the total cost of production,” said the CEO. The CEO of Abiquim believes that it is essential to clarify this point to society, otherwise the chemical industry will not only be able to pay for the mistakes of government policy, but also threaten the future. “We risk seriously undermining the competitiveness of the Brazilian petrochemical chain if common sense and technology are not taken into account in the next long-term naphtha contract, which is expected to be concluded in the coming days,” he concluded.
The delivery agreement represents a significant step forward for Braskem, as the company deals with the consequences of the declaration of insolvency of majority shareholder Odebrecht, which has faced a series of complaints and other issues concerning the involvement of the company and several executives in a vast bribery program. The procedural problems broke Odebrecht`s attempt to sell Braskem to LyondellBasel in a deal Petrobras was about to sign. Odebrecht and the state Petrobras operate the company as part of a shareholder pact, but Petrobras wants to cancel its stake in the petrochemical company as part of its $20-30 billion divestment program for construction in 2020-2024. According to the petition, trade negotiations on naphtha prices were conducted on a comprehensive basis and on the basis of technical and economic criteria, as shown in the documents presented in the Petrobras reports. In its petition, based on 36 von Petrobras for the development of the internal report of verification of raw material contracts delivered to the Federal Police, the company concluded that the 2009 naphtha contract model signed with Petrobras was balanced. Rio de Janeiro – Petrobras has agreed on a new five-year contract to supply naphtha to Braskem, as Brazilian companies announced on June 10. Much has been said about an alleged loss to Petrobras caused by the naphtha contract. Figueiredo notes, however, that a study by Abiquim on this subject makes it clear that Petrobras has decided to use naphtha, mandated by the petrochemical industry, to increase gasoline production and thus meet the increased demand for consumption in Brazil.