Petrobras To Decide Future of Comperj in September

Written by Renato Oliveira

Published on 03/08/2019 at 13:09

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Technical Study Should Be Ready By The End Of September And Will Tell Petrobras If It Is Worth It To Let The Chinese Build Comperj, Which Currently Only Has UPGN Works Underway

The Director of Refining and Natural Gas at Petrobras, Anelise Lara, made an important statement for all of us who are looking forward to a conclusion regarding the continuation of the works and job generation that Comperj promised.
According to the director, the technical study that will define the necessary value for the construction of the project by the Chinese company CNPC will be completed by the end of September this year, and only after that will Petrobras give its final word.

In a press conference at Petrobras headquarters in Rio de Janeiro, the director stated: “This technical study will be completed by the end of September. That is when we will have a technical assessment made by a construction company for large projects and the CNPC assessment so that we know whether to move forward with Comperj or not”.

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Petrobras and Comperj have been facing several issues, the latest of which was the decision that the state-owned company would sign a Conduct Adjustment Term (TAC) with the Public Prosecutor’s Office of Rio (MPRJ) yesterday, Friday (02/08), for the amount of R$ 815 million.
The amount is intended for the municipalities of São Gonçalo and Itaboraí, which will receive the funds as compensation for the stoppage of Comperj’s works and all the damages caused consequently.

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This is not the only compensation that Petrobras will have to make. Currently, there are five public civil actions underway at MPRJ regarding the environmental impacts caused by Comperj.

According to prosecutor Tiago Gonçalves, responsible for the actions, the total value of the TACs may reach up to R$ 7.5 billion, and the company has already made a write-off of almost R$ 1 billion in the second quarter of this year due to the fact.

The decision on whether or not to conclude the Petrochemical Complex of Rio de Janeiro comes at a time when Petrobras has decided to sell 8 of its 13 refineries, a fact that has already attracted interest from more than five companies, according to the director.

“The refineries for sale will serve different markets. Therefore, potential buyers from one region will not be the same as those from another region. The potential is great. With Brazil returning to grow, there will be a trend of improvement in the production of derivatives, and this will attract more interested parties”, she stated.

Petrobras To Decide Future of Comperj in September

Technical Study Should Be Ready By The End Of September And Will Tell Petrobras If It Is Worth It To Let The Chinese Build Comperj, Which Currently Only Has UPGN Works Underway

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

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