Wednesday, October 8, 2014

Revisited: Pequiven investment plans

It is interesting to look back and see previous posts. By now, more than 2 million tpa of polymer production could be already online in Venezuela, but all these projects, to my knowledge have been killed.

What is even more interesting that most of this projects if built would have been an economic disaster, since the shale gas revolution on the us has reduced the margins for Naphtha feed crackers.

Even the giant of the south, Petrobras/Braskem is not having a better picture:

Millions of dollars were allegedly creamed off inflated contracts for the Abreu e Lima refinery being built near Recife in Northeast Brazil. The refinery is to start operating in November, three years late. Its cost has ballooned.
A second Petrobras refinery project — Comperj, near Rio — is four years behind schedule, double the projected cost and delayed by strikes

In a next series of post I will talk about the investment options available for the venezuelan and latinamerican petrochemical industry.

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