New Rival For Chemical Producers

The Brazilian state owned oil & gas major Petrobras plans to get into the petrochemical industry in order to start the fomenting competition with the private companies that control the crackers and the thermoplastic resins chains.
The strategic plan should be completed until the end of April. Petrobras participates in several petrochemical projects but has no influence in the management. The company may concentrate efforts on a single group among the ones being established- Braskem/Copesul and Sudeste - or may create a big petrochemical company headed by it.
The company is the largest supplier of naphtha to the three crackers active in Brazil and will also be the supplier of the Rio Polimeros complex - the petrochemical complex under construction in Rio de Janeiro. The company has 17% of the company capital. It also holds 10% stake in Braskem and 15% in Copesul.