Petrobras Partnership with the Chinese at Comperj Is at Risk

Written by Renato Oliveira

Published on 21/03/2019 at 18:09

Chineses em risco

Be the first to react!

Divestment Plans in the Refining Sector Cause Petrobras to Reevaluate Agreement with the Chinese on Comperj Works

The agreement signed in October last year between Petrobras and the Chinese CNPC for the construction of the Comperj refinery in Itaboraí (RJ) is at serious risk of being misaligned with the line of reasoning of the president of the Brazilian state-owned company.
It is known internally that the new model to be adopted is one of divestments and reduced participation in the refining sector, and the pre-agreement with the Chinese, signed under the management of former company presidents, Pedro Parente and Ivan Monteiro, is now at odds with what the current president, Roberto Castello Branco, believes.

Under the agreement with the Chinese, CNPC would hold 20% of the joint venture to be formed for the completion and operation of the first train (module) of the Comperj refinery, which will have a capacity to process 165,000 barrels/day of oil.
To date, the definitive agreement for the partnership has not been defined due to feasibility and planning studies that have been dragging on since July 2017.

ARTICLE CONTINUES BELOW

The Comperj

On Monday (03/18) the president of the State-Owned Company and the governor of the state of Rio de Janeiro, Wilson Witzel, met to combine efforts in resuming the works of Comperj, and the governor stated that he would provide all necessary support.

Upon reaching an agreement on the resumption of the Comperj works, Petrobras believes it will need an additional two years to complete the construction, which is currently 80% finished and was interrupted in 2015.

The Comperj has consumed investments on the order of US$ 13 billion, and Petrobras has conditioned the resumption of works on the entry of a partner, as it is believed that around US$ 13 billion are still needed to finalize the project.

Today, Petrobras is solely in charge of completing the (UPGN) Natural Gas Processing Unit at Comperj and has already spent around R$ 1.95 billion on the project.
Petrobras aims to earn approximately US$ 40 billion from the sale of refining assets, and the idea is to keep only 50% control of this segment.

The Oil Company Has Elected Anelise Quintão Lara for the Position of Executive Director of Refining and Natural Gas at the State-Owned Company! Click here to read the full article!

Petrobras Partnership with the Chinese at Comperj Is at Risk

Divestment Plans in the Refining Sector Cause Petrobras to Reevaluate Agreement with the Chinese on Comperj Works

The Comperj

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Santa Catarina invests R$ 1 billion against the risk of El Niño, accelerates work on dams, cleans rivers, delivers 641 bridges and 126 water trucks, and prepares 295 municipalities for heavy rains, floods, and landslides still in 2026.

Find out which are the 5 busiest bus stations in Brazil and what they offer to travelers.

He looks alien, and it’s on purpose: the Helios abandons the legs of common humanoid robots and gains four arms to move, anchor, and operate in zero gravity, with the promise of eventually even helping with the maintenance of satellites and structures in orbit.

Brazilians create cashierless mini-market in the USA, use AI to define products and prices, raise R$ 10 million, and achieve financial balance in the first month before planning nine more units in Miami by the end of 2026.

Petrobras Partnership with the Chinese at Comperj Is at Risk

Divestment Plans in the Refining Sector Cause Petrobras to Reevaluate Agreement with the Chinese on Comperj Works

The Comperj

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Water hyacinth that blocks boats, oxygen, and channels gains a new function as a lightweight construction panel, creating a sustainable alternative, reducing waste, and offering efficient thermal insulation.

More than 230 Brazilian companies move production to Paraguay, pay a tax rate close to 12%, compared to about 80% in Brazil, and use Mercosur to sell back to the domestic market without import tax.

Dredged material from navigation channels restores life to Poplar Island, reconstructs 1,715 acres of land, expands open water zones, and creates a refuge for hundreds of migratory and local bird species.

About 500 kilos of green stones with juvenile algae are spread in the ocean to regenerate underwater forests, reduce costs, and accelerate the restoration of marine habitats.

Santa Catarina invests R$ 1 billion against the risk of El Niño, accelerates work on dams, cleans rivers, delivers 641 bridges and 126 water trucks, and prepares 295 municipalities for heavy rains, floods, and landslides still in 2026.

Find out which are the 5 busiest bus stations in Brazil and what they offer to travelers.

He looks alien, and it’s on purpose: the Helios abandons the legs of common humanoid robots and gains four arms to move, anchor, and operate in zero gravity, with the promise of eventually even helping with the maintenance of satellites and structures in orbit.

Brazilians create cashierless mini-market in the USA, use AI to define products and prices, raise R$ 10 million, and achieve financial balance in the first month before planning nine more units in Miami by the end of 2026.