Petrobras has announced new long-term contracts with Braskem SA as the company approaches the expiration of existing agreements, solidifying its role as a key supplier to Brazil’s leading petrochemical producer.

 

Under the deals, Petrobras will supply Braskem plants in São Paulo, Bahia, and Rio Grande do Sul. Prices are pegged to the international naphtha benchmark, with minimum monthly volumes and the option to negotiate additional quantities—potentially reaching 4.116 million tons in 2026 and 4.316 million tons in 2030. “The estimated value of the contracts is US$ 11.3 billion, with a term of 5 years, starting on 01/01/2026.”

 

Also supplies to Rio de Janeiro are tied to international natural gas and propane prices. From 2026 to 2028, Petrobras will maintain the current contracted quantity of 580,000 tons of ethylene equivalent per year, produced at Reduc. From 2029 to 2036, the volume rises to 725,000 tons to support Braskem’s expansion, with production from Reduc and/or the Boaventura Complex. “The estimated value of the contract is US$ 5.6 billion, with a term of 11 years, starting on 01/01/2026.”

 

Purchase and sale agreements from the Reduc, Recap, and Refap refineries are based on international propene benchmarks. Contracted volumes are up to 140,000 tons per year at Recap, 100,000 tons at Reduc, and staggered quantities at Refap over five years. “The estimated value of the contracts is US$940 million, with a term of 5 years, starting on May 18, 2026.”

 

Petrobras emphasized that the deals are a Related Party Transaction (RPT) executed under “strictly commutative conditions, prioritizing transparency, fairness, and the interests of the companies, in accordance with market conditions,” and have been reviewed by the Statutory Audit Committee (CAE).