Comperj: TCU Reveals The True Cost to Public Finances in the Construction of Petrobras’ Petrochemical Complex in Rio de Janeiro, Which Was Initially Estimated at 6 Billion and Has Yet to Produce a Single Barrel of Oil

If the Federal Government Desired to Complete the Comperj Works Today, the Expense Would Be Around R$ 200 Billion, or More Than 33 Times the Initial Amount, Explaining Why Petrobras Does Not Want to Continue with the Refinery Project and Only Maintain the UPGN. This Was a Survey Published by the TCU on June 7

During the year 2006, Luiz Inácio Lula da Silva Would Have Participated in the Inauguration of the Petrochemical Complex of Rio de Janeiro (Comperj), at Clube Mauá, which Would Be Part of One of Petrobras’ Largest Petrochemical Complexes. However, Almost Two Decades After the Event, the Federal Court of Accounts (TCU) Revealed That the Damage to Public Finances Relating to This Construction and Other Complexes Reached 47 Billion Reais. The Information Was Endorsed by Revista Veja.

The Petrobras Complex Project Was Created by the Workers’ Party Government to Boost the Brazilian Economy by Automating the Sale of Oil and Production of Fossil Fuel Derivatives. However, Today, the Country is Experiencing a Crisis Left by the State-Owned Company and the High Fuel Prices, Which Caused the Gasoline Price to Reach R$ 7 Per Liter in Around Twenty Brazilian States. 

Petrochemical Complex in Rio de Janeiro (RJ) Has Already Consumed R$ 40 Billion and Has Not Produced Any Barrel of Oil So Far

The Initial Budget for the Construction of Comperj, Under Petrobras’ Command, Was R$ 6 Billion, But, Until Today, The Constructions Have Not Been Completed and Expenses Exceed R$ 40 Billion

According to the TCU (Federal Court of Accounts), the Petrochemical Complex of Rio de Janeiro (Comperj) Should Have Been Completed by 2011, Having a Budget of Up to R$ 6 Billion. However, Even in 2017, It Was Still in the Finalization Process, and the Government Had Already Released More Than R$ 30 Billion for Completion. 

The Petrochemical Complex Was Not Completed, but Surveys Show that For the Construction to Reach Completion, Considering Brazil’s Double-Digit Inflation in 2022, the Government Would Need to Invest Over R$ 200 Billion, Which Would Be Unviable Given the Public Debt Already Occupying Over 80% of the Gross Domestic Product (GDP). 

The TCU Claims to Have Found a Number of  Irregularities in the Works, Such as the Illegal Hiring of Other Companies as Well as the Overweight of Purchased Materials. The TCU States that the Criminal Scheme Was Present During Both the Dilma Administration, When She Was Removed from the Presidency in 2016, and Luiz Inácio Lula da Silva’s, Who is Running for Presidency in 2022. After All, the Scheme Lasted From 2006 to 2014. 

Following Investigations, Renato Duque, Former Petrobras Director, Was Notified to Pay a Fine to Compensate for the Damages Left by His Management of the State-Owned Company. The Former Director Was Appointed to Manage the Company in 2003 by the Petista Luiz Inácio and, After the Execution of Powers of Attorney, Was Condemned to More Than 60 Years in Prison for Crimes of Passive and Active Corruption. In Total, He Was Condemned by the Federal Court of Accounts to Pay the Amount of R$ 975 Million in Fines. 

In Addition to the Petrobras Complex That Was the Target of Investigations, the Former Director During the Petista Government, Who Was Responsible for Managing the State-Owned Company, Was Also Investigated for Diverting Part of the Public Funds Intended for the Construction of Premium I and Premium II, In Maranhão and Ceará. See the Story of This Article Here.