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Brazilian Petrobras’s Suape and Citepe sale suspended

by ChemOrbis Editorial Team -
  • 01/02/2017 (14:45)
According to media reports, a judge ordered the suspension of the sale of petrochemical companies Suape and Citepe to Mexican petrochemical company Alpek by Brazil’s state-run oil company Petrobras.

The talks between Petrobras and Alpek about the sales of these petrochemical units had started last August. Petrobras was planning to sell the two companies for $385 million in efforts to reduce its debt. Alpek had said they were waiting for government approval for the deal to be completed.

Petrobras’s subsidiaries to be sold have a combined production capacity of 700,000 tons/year of PTA and 450,000 tons/year of PET.
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