MOSCOW (MRC) -- The Brazilian government is not meddling in pricing decisions by state-controlled oil producer Petroleo Brasileiro SA, which on Wednesday kept cooking gas out of a pricing system based on international parity, reported Hydrocarbonprocessing.
Chief Executive Officer Pedro Parente, speaking at a news conference, said the decision helps Petrobras comply with rules set by Brazil's most powerful energy policy body to help contain fuel costs for households.
As MRC informed before, in April 2017, Alpek, S.A.B. de C.V. announced that it had obtained all necessary corporate approvals to acquire 100% of PetroquimicaSuape and Citepe from Petrobras for USD385 MM. Petroquimica Suape and Citepe operate an integrated PTA-PET facility in Ipojuca, Pernambuco, Brazil with an installed capacity of 640 Mtpy and 450 Mtpy PTA and PET, respectively. Citepe also operates a 90 Mtpy texturized polyester filament plant on site.
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.