Petrobras announced on Wednesday, 4/7, possible partnership in refining with China National Petroleum Corporation (CNPC), which involves the petrochemical complex of Rio de Janeiro (COMPERJ). The Chinese company is already a member of the state in the giant field of Libra, in the pre-salt of the Santos basin, and in De Peroba, one of the most disputed in the pre-salt auctions last year.
The agreement takes place less than a week after the Minister of the Supreme Court (STF), Ricardo Lewandowski, forbid the government to sell state without the proper authorization of Congress. As it motivated Petrobras to suspend this week the sale of some assets, such as the associated gas carrier (TAG), evaluated between US $8 billion and US $9 billion. Decision affecting the oil deinvestment goal of US $21 billion for the 2017-2018. Of that total, only US $4.8 billion were sold.
The partnership announced on Wednesday involves the construction of a refinery capable of processing 165,000 barrels daily (b/d) of oil in the COMPERJ, integrated with the revitalization of the cluster (set of fields) of Marlin, formed by Marlin, flying, East Marlin and South Marlin, which were once the stars of the Campos Basin and today produce half of that eight years ago. East Marlin, for example, that in 2010 extracted 143,000 b/d oil, today only produces 70000 B/d.
The idea of the agreement is to process the heavy Marlin oil in the refinery that will be completed by the Chinese company, and that according to Petrobras is already 80% ready. But the capacity of 165,000 B/D leaves the Comperj refinery among the smallest of the company.
"We take a step further in finding partners to complete the Comperj refinery, while guaranteeing new investments and revitalizing the Marlin field," said Petrobras President Ivan Monteiro. According to him, the partnership is a demonstration of how the financially healthy and balanced Petrobras can have a positive impact on the Brazilian society and all its shareholders.
For the director of the Brazilian Infrastructure Center (CBIE), Adriano Pires, the business is positive for the company and for Brazil, which expands its refining park. He noted however, that only a Chinese state could close an agreement with Petrobras with the increase of uncertainty in the Brazilian oil and gas sector after the truckers strike and the decision of the Minister of the STF.
"It is good news in view of this unfortunate decision of the Lewandowski," said Pires to the Broadcast (real time news service of the State group) and to the newspaper the state of S. Paulo. "This partnership is interesting in the face of the scenario that we are living in Brazil today, with Lewandowski, price control, it pushes investors away, only even a state to take that risk, only even left the Chinese," he evaluated, explaining that to Contrary to the private company, the state does not look only profit and has a more strategic view. In the case of the Government of China, the goal is to generate jobs and sell their equipment to Brazil.
According to Pires, these regulatory changes push investors away, who had withdrawn from the refining sector after the government intervened in Petrobras ' daily price adjustment for diesel. Without parity with the global market, investors are afraid of not getting back on the billionaire business that is to build and operate a refinery. In addition to diesel, the National Agency for Petroleum, Natural Gas and Biofuels (ANP) opened an unprecedented contribution to study the convenience of stipulating a time limit to assess the frequency of fuel adjustment, which was considered a Kind of government intervention in the sector.
The director of the CBIE said that for Brazil the news is positive because it expands the refining park, sector that less grew after the opening of the oil market in 1997. Today, Petrobras has a monopoly on refineries, with 98% of the market. "It's important to the supply."
Source: State of Sao Paulo.
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