MOSCOW (MRC) -- Brazilian petrochemical major Braskem has signed a contract with state-run producer Petrobras for the supply of naphtha feedstock, said Hydrocarbonprocessing.
The new contract, which continues the terms of a previous naphtha deal, is valid until the end of October, according to a report from news agency Reuters.
Braskem said in a statement that it continues to work with Petrobras to reach a long-term solution for naphtha supply.
Npahtha is the main raw material for most of Braskem's chemical and plastic products. However, the contract has come under intense scrutiny in recent weeks after allegations of bribery surfaced regarding prior contracts.
As MRC informed earlier, Petrobras said it has identified "irregularities" in the 2009 naphtha supply contract with local petrochemicals company Braskem, a sign that a widespread bribery scandal may have tainted the deal.
Braskem is Brazilian main producer of polyethylene and polypropylene. In addition with ongoing plants located in both petrochemical complexes, in April 2008 Braskem opened a 300,000 metric ton polypropylene plant in the city of Paulinia (Sao Paulo).
Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
MRC