Braskem confirms breakthrough in negotiations with Petrobras

São Paulo-Braskem confirmed in a statement distributed on Wednesday, 25, that negotiations with Petrobras for the signing of a new addendum to the agreement for the supply of nafta presented evolution during meetings held yesterday.
Last night, the Broadcast, real-time news service the Agência Estado, had already reported that, during the meeting in Brasilia, the signing of a new agreement was closer.
"It was positive the meeting held yesterday at the Ministry of mines and energy. Braskem and Petrobras advanced in negotiations for the signing of a new addendum to the agreement for the supply of petrochemical naphtha ", highlighted the Braskem on note.
The current additive, valid for six months, WINS next Saturday. So, highlighted the Braskem, petrochemistry and Petrobras "will employ best efforts to overcome the outstanding points and reach the conclusion of the agreement by the end of this week".
The company did not inform if the new additive will have the same conditions in the current agreement, however, the progress of the negotiations that occurred yesterday indicates that the additive may be a repetition of the document signed in August last year.
The Secretary of development, science and technology of Rio Grande do Sul, Fábio Branco, one of those present at the meeting, had informed the report Broadcast last night that the meeting was "fruitful".
White told that Eduardo Braga, Minister of mines and energy, believes that the delicate moment lived by Petrobras-with the unfolding of the operation car wash and the recent exchange of Board makes a longer lasting contract negotiation, which replace the additives.
To ensure that within six months is reached a long-term proposal for the supply of naphtha, Barnes has determined the creation of a working group, which will have the participation of government representatives, Braskem and Petrobras.
Given the proximity of the end of the term of the agreement, the negotiations between Braskem and Petrobras won new contours and arrived in Brasilia.
The last long-term deal between the parties had validity of 2009 to 2014, but provided for an extension of ten years (five years, extendible for another five).
Since February 2014, on the absence of a new multi-year agreement, the two companies have formalized two additives with a maturity of six months.
The latest of them stipulates that the conditions laid down shall be retroactive to the end of August.
Maintaining this clause seems to be, at this point, the main uncertainty about the new additive negotiated between Braskem and Petrobras.
The negotiations about a long-term contract became unfeasible before the turbulent time faced by Petrobras and the change of the Board of Directors of the State.