The contract with SCG Chemicals is the fourth supply agreement that QPSPP has signed with an Asian buyer since late 2018. QPSPP has three 5-year contracts with Japanese company Marubeni Corp. Under two of these contracts, the QSP will provide a total of 1.2 million tonnes of naphtha per year between October 2018 and September 2023. For the third order, QPSPP will supply 200,000 mt/year of light naphtha from January 2019. The supply agreement represents a significant step forward for Braskem, as the company faces the consequences of the bankruptcy filing of majority shareholder Odebrecht, which has faced a number of lawsuits and other issues related to the involvement of the company and several executives in a vast corruption scheme. Procedural issues thwarted Odebrecht`s attempt to sell Braskem to LyondellBasel in a store that Petrobras wanted to join. Odebrecht and Petrobras operate the company under a shareholders` agreement, but Petrobras wants to lose its stake in the petrochemical company as part of its $20 billion to $30 billion divestment program for 2020-2024. The Middle Eastern supplier has sold at least 327,500 tons of naphtha spot for lifting from April so far, which will be the highest monthly total since October, according to data from S&P Global Platts. DUBAI, Feb 13 (Reuters) – Qatar Petroleum has signed a five-year sale agreement to supply Japan`s Marubeni Corp with a total annual volume of 200,000 tonnes of light naphtha from January 2019, the Doha-based company said in a statement on Wednesday. (Reporting by Maher Chmaytelli; Edited by Kirsten Donovan) Rio de Janeiro – Petrobras has agreed to a new five-year contract to deliver naphtha to Braskem, Brazilian companies announced on June 10. The long-term contract also represented a change in strategy for Petrobras, which had reduced naphtha sales in Braskem in recent years, as the industry may have left the industry as part of its asset sale program. Brazil`s Petrobras and Braskem sign a five-year naphtha supply contract QPSPP has the option to offer Ras Laffan light naphtha in several qualities as part of the contract, and the first shipment has not yet been arranged, a source familiar with the matter said Monday. Qatar signs a 10-year naphtha supply contract with Thai SCG Chemicals QPSPP expands in the Far East and signs long-term contracts in addition to the usual quarterly naphtha tenders.
The latest supply agreement will deliver at least 650,000 tons per year, with an additional maximum volume of 2.8 million tons possible, Braskem said. The naphtha will be supplied to Braskem`s facilities in the states of Bahia and Rio Grande do Sul, the two companies said. Braskem will pay 100% of the prices of Amsterdam-Rotterdam-Antwerp naphtha, according to the companies. The blocks border three areas of oil and natural gas discoveries: Parque dos Deuses, Parque dos Doces and Parque dos Cachorros, Petrobras said. According to the company, the areas all have undersalt potential. Saudi Aramco increases April gross PSOs to Asia, Europe and the United States The new deals replace existing purchase agreements that will end in December, the companies said. The Ukrainian crisis is causing geopolitical turmoil and darkening the VLGC market in 2022: BW LPG Singapore – Qatar Petroleum for the Sale of Petroleum Products, or QPSPP, announced on Sunday that it has signed a contract to supply 3 million tons of light naptha over a period of 10 years to the Thai company SCG Chemicals, as of this month. Unauthorized attempts to upload information and/or modify information on any part of this website are strictly prohibited and subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see 18 U.S.C. § 1001 and 1030). It`s free and easy to do.
Please use the button below and we`ll take you back here when you`re done. . For more information, see the SEC`s Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission. While capital markets have been volatile since the onset of the global coronavirus, Petrobras expects the transition to Novo Mercado to take place in the second half of 2020, executives said. The sale would then take place by the end of 2020 or the first quarter of 2021, according to Castello Branco. Petrobras also currently holds an 80 percent operational stake in blocks ES-M-598 and ES-M-673, with Enauta retaining the remaining 20 percent, according to Petrobras. Petrobras plans to sell up to 40 percent of its stake in both blocks, the company said. By using this website, you agree to security monitoring and auditing.
For security reasons and to ensure that the public service remains accessible to users, this government computer system uses network traffic monitoring programs to identify unauthorized attempts to upload or modify information, or otherwise cause damage, including attempts to deny service to users. In a separate statement, Petrobras also extended the deadline for companies to express interest in selling five offshore blocks in the Espirito Santo Basin. Petrobras teamed up with Equinor, Total and brazilian small player Enauta to buy the blocks in Brazil`s 11th round of auction in 2013. The exploration periods for some of the blocks of the 11. The tender round was recently extended due to environmental approval issues related to the sale. . Please report your traffic by updating your user agent to include company-specific information. “It makes no sense for Petrobras to be a partner of Braskem,” Said Roberto Castello Branco, CEO of Petrobras, during a webinar on May 25. “First, Petrobras is not a mutual fund. We do not run Braskem, we have only one position as a shareholder. Petrobras and Odebrecht are in talks to adjust the structure of Braskem`s shares to a single class of common shares, which would allow the shares to be traded in the Novo Mercado mechanism of the B3 exchange.
Petrobras would then use the move to Novo Mercado to sell its stake in Braskem through a capital market offering, similar to how Petrobras sold its stake in the BR Distribuidora fuel distribution unit in 2019. Edited by Claudia Carpenter, email@example.com The issues prompted Equinor and Total to sell their shares in the blocks to Petrobras, with Petrobras now owning 100 percent of the ES-M-596, ES-M-671 and ES-M-743 blocks, Petrobras said. Petrobras plans to sell up to 50 percent of the blocks while retaining a 50 percent operational stake, the company said. “The contracts ensure Braskem`s competitiveness in the supply chain and stimulate investment and new business in the petrochemical sector, which is a key segment of the country`s industrial activity,” the petrochemical company said in a statement. Braskem expects demand for petrochemicals to fall 5% to 6% year-over-year in 2020 due to the coronavirus pandemic, company officials said on June 3. Sales fell 20 percent in April after Brazil introduced social distancing measures, but the easing of restrictions led to a better-than-expected increase in sales in May, the company said. .
Comments are closed.