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Report: Braskem, Petrobras fail to agree on naphtha contract price; extend existing deal until February 2015

6:45 AM MDT | September 1, 2014 | Francinia Protti-Alvarez

Petrobras and Braskem have extended the terms of their existing naphtha supply contract for six months after the companies failed to reach an agreement on the price, according to a report from Brazilian newspaper Folha de S. Paolo. The extension maintains the price and terms of the contract until February 2015, the report says. The new contract will, as a result, be negotiated after Brazil's presidential elections in October. The extension was the only way to prevent the temporary closure of Braskem's production site at Maua, and of half of the output at...

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