Petrobras announces a partnership with the Chinese in Comperj



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Petrobras announced on Wednesday 04, a possible refining partnership with China National Petroleum Corporation (CNPC), which concerns the petrochemical complex of Rio de Janeiro (Comperj). The Chinese company is already partnering the state-owned company in the giant field of Libra in the pre-salt Santos Basin and Peroba, one of the most controversial in the pre-salted auctions. 39, last year.

A week after Federal Supreme Court (STF) Minister Ricardo Lewandowski banned the government from selling state-owned companies without congressional approval. This move motivated Petrobras to suspend the sale of certain badets, such as the Associated Gas Carrier (TAG), valued between US $ 8 billion and US $ 9 billion. Decision that affects the $ 21 billion oil divestment target for the 2017-2018 biennium.

The announced partnership includes the construction of a refinery capable of treating 165,000 barrels per day of oil at Comperj, integrated with the revitalization of the Marlim cluster (set of fields), formed by Marlim, Voador, Marlim Leste and Marlim Sul, who were once the stars of the Campos Basin and produce today half of what they did eight years ago. Marlim Leste, for example, who extracted 143 000 b / d of oil in 2010, produces only 70 000 b / d

The idea of ​​the agreement is to treat the oil heavy Marlim at the refinery to be completed by the Chinese company, and that according Petrobrás is already ready to 80%. But the capacity of 165,000 b / d leaves the Comperj refinery among the smallest of the company

"We are taking a step further in the search for partners to complete the Comperj refinery, while ensuring new investments and the revitalization of the Marlim field, "Petrobras president Ivan Monteiro said in a statement, saying the partnership is a demonstration of how a financially sound and balanced Petrobras can have a positive impact on Brazilian company and all its shareholders.

Uncertainties. For the director of the Brazilian Infrastructure Center (CBIE), Adriano Pires, the company is positive for the company and for Brazil, which is expanding its refining fleet, but noted that only a Chinese state-owned company could enter into an agreement with Petrobras with growing uncertainty in the oil and gas sector. after the truckers' strike and the decision of the Minister of the STF.

"This is good news because of this lamentable decision of Lewandowski," said Pires Broadcast / Estadão . "This partnership is interesting given the scenario we know in Brazil today, with Lewandowski, price control, which keeps investors away, only a public company to take this risk, only let the Chinese," was he says, explaining that unlike private enterprise, the state corporation does not just look at profit and has a more strategic vision. In the case of the Chinese government, the goal is to generate jobs and sell equipment in Brazil.

According to Mr. Pires, these regulatory changes distract investors who had already withdrawn from the refining sector after government intervention in price adjustment. Petrobras daily for diesel. Without parity with the global market, investors are worried about not making the activities of the billionaires building and operating a refinery profitable. In addition to diesel, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) has launched an unprecedented contribution to study the opportunity of providing a period to evaluate the periodicity of adjustment fuel, considered a government intervention.

The director of CBIE said that for Brazil, the news is positive, as it expands the refining fleet, the sector that has increased the least after the opening of the oil market in 1997. Today Today, Petrobras has a monopoly on refineries, with 98% of the market. "It's important for the supply."

To remember. At the center of Lava Jato's allegations of corruption, Comperj's work began 10 years ago and was aimed at building a petrochemical center in the Southeast.

The initial investment was estimated at $ 8.4 billion US $ 12.5 billion in state-owned enterprise without producing a drop of raw material. At the time, the government announced that 200,000 direct and indirect jobs would be created, which did not materialize either.

In order for Comperj to move forward even without being able to attract partners, Petrobras changed the purpose of the unit and decided to produce gasoline and diesel in a refinery. with a processing capacity of 165,000 barrels daily heavy oil, which would be ready in 2015, and an additional 300,000 barrels a day are planned for the future. The same year, however, the work was again interrupted by the order of Petrobras President Aldemir Bendine, then imprisoned by the Lava Jet.

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