PetróleoBrasileiro S.A. or Petrobras PBR not too long ago snapped up a cut price with a brand new f
PetróleoBrasileiro S.A. or Petrobras PBR not too long ago snapped up a cut price with a brand new five-year deal to produce naphtha to Braskem SA’s BAK unit in Sao Paulo in addition to ethane and propane to a different unit in Rio de Janeiro.
Per the contract, Petrobras will provide round 2 million tonnes of naphtha yearly to Braskem. This R$19-billion deal turned efficient Dec 23, 2020 and can proceed by way of Dec 31, 2025.
In response to the R$ 7.6-billion ethane and propane pact, Petrobras will provide a minimum of 580,000 metric tonnes of ethylene yearly to Braskem till the stipulated date. This new settlement will comply with the prevailing gross sales contract that’s scheduled to shut on Dec 31 of this yr.
Earlier this yr, Petrobrasinked a five-year deal to produce naphtha to Braskem’s models in Bahia and Rio Grande do Sul states. Per the contract, Petrobras will provide a minimum of 650,000 metric tonnes of naphtha yearly to Braskem with a further most capability of two.eight million metric tons. These new agreements will comply with the prevailing gross sales contracts which might be scheduled to be accomplished in December.
Administration at Braskem, which is among the largest petrochemical operations in Latin America, believes that this multi-year deal will assist Braskem compete within the provide chain house, increase its investments and develop enterprise within the petrochemicals sector.
Firm Profile
Petrobras is the most important built-in power agency in Brazil and one of many largest in Latin America. The corporate’s actions embrace exploration, exploitation and manufacturing of oil from reservoir wells, shale and different rocks in addition to refining, processing, buying and selling and transportation of oil and oil merchandise, pure fuel and different fluid hydrocarbons apart from different energy-related operations.
Zacks Rank & Key Picks
Petrobras presently has a Zacks Rank #3 (Maintain). Some better-ranked gamers within the power house are Hess Midstream Companions LP HESM and China Petroleum & Chemical Company SNP, every presently sporting a Zacks Rank #1 (Robust Purchase). You possibly can see the entire record of at this time’s Zacks #1 Rank shares right here.
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Petroleo Brasileiro S.A. Petrobras (PBR): Free Inventory Evaluation Report
China Petroleum & Chemical Company (SNP): Free Inventory Evaluation Report
Braskem S.A. (BAK): Free Inventory Evaluation Report
Hess Midstream Companions LP (HESM): Free Inventory Evaluation Report
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Zacks Funding Analysis
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