Giving up the construction of the Refinery is in line with the government's intention to reduce Petrobras' participation in refining and the construction of a thermoelectric plant on the site gains strength

Petrobras announced that Comperj, in Itaboraí, may stop being a Petrochemical Complex and become a Thermoelectric Power Plant.
As the state-owned company is already building the UPGN (Natural Gas Processing Unit) on site, the intention is to use the natural gas from the pre-salt layer to generate electricity.

Upon confirming Petrobras' withdrawal from carrying out the works, the fact will impact the agreement with the Chinese CNPC, which was to build Comperj together, with the Chinese state-owned company taking a small part of the refinery.

According to comments in the market, the Chinese would no longer be very interested in the business and would not be opposed to a possible disarray.

The venture, started in 2008, was already considered the biggest investment in the history of Petrobras, consumed around US$ 14 billion from public coffers and had its works paralyzed after the evidence of corruption pointed out by the car wash operation.

Petrobras' decision comes in line with the latest statements by its president, Roberto Castello Branco, to start in June, disposing of half of its 13 refineries in the South, Southeast and Northeast of Brazil.

The intention of the company's new management is to put an end to Petrobras' monopoly and encourage free competition, so it would not make sense to invest in a new refinery the size of Comperj if the moment is for divestments in this sector by the government.

The thermoelectric

The new thermoelectric plant to be built in place of Comperj does not yet have a defined capacity, but its construction will replace Comperj in creating jobs in Itaboraí and region.

In the construction of Comperj, it was estimated that 200 direct and indirect jobs would be created, and today the project boils down to Petrobras' incessant search for partners to complete the works.

Did you see that the President of Bndes wants natural gas as fuel in trucks? Go here and read the article!