Page 58 - Plastics News January 2017
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Petrobras to sell petrochemical NATPET and A. Schulman
assets in partnership for PP
compounding plant
Brazil's state-run oil company, Petroleo Brasileiro SA,
has announced the sale of ethanol and petrochemicals Leading global supplier of high-performance
assets for $587 million, but said it would still fall $1.5 billion plastic compounds A. Schulman and National
short of its divestment target for the 2015-2016 period. Petrochemical Industrial Company (Natpet)
Among the assets sold were its 46 percent stake in ethanol have entered into a partnership to construct
PP compounding plant in Yanbu. The 100,000
producer tpa compounding facility is scheduled to start
Guarani SA, commercial production in mid-2017. The 50:50
which was
acquired for joint venture Natpet Schulman Specialty Plastic
$202 million Compounds will manufacture a range of tailor-
by its French made “Polyfort” and “Polyflam” flame-retardant
partner Tereos compounds as well as others based on a variety of
SA, which will Natpet’s “Teldene” PP grades. Output will meet
now own all of growing demand for durable goods, automotive and
the company. electrical & electronic applications s in Europe, the
Petrobras, as Middle East, Africa (EMEA), Asia and India.
the company is known, said it will also sell its two A. Schulman and NATPET have built the polyolefin
petrochemical units in the northeastern state of compounding plant based on the latest state-of-the-
Pernambuco - Petroquimica Suape and Citepe - to Mexican art technology, safety regulations and certification
group Alpek SAB de CV subsidiaries Grupo Petrotemex SA standards. The production is designed for an annual
de CV and Dak Americas Exterior SL for $385 million. Even polypropylene compounding capacity of up to 100,000
after a flurry of asset sales this month, Petrobras failed tonnes and is located on NATPET’s polypropylene
to meet its two-year divestment target of $15.1 billion. polymerisation site. This setup ensures efficiency
along the entire value chain, from propane gas to
The state oil company said in an emailed statement that customer-specific Polyfort and Polyflam compounds.
a court injunction this month blocking its negotiations The portfolio includes coloured, mineral-filled,
to sell the Tartaruga Verde and Bauna oilfields was to glass-fiber-reinforced, hybrid filled PP Homo and PP
blame for missing the goal. The company announced in copolymer compounds as well as impact modified low
October Karoon Gas Australia Ltd was interested in these emission grades for the automotive interiors and flame-
fields.Petrobras is selling off noncore assets in a bid to retardant V2, V0 GWFI- and 5VA UL listings.
reduce its $125 billion debt, the largest in the global oil
industry. Last week, the company said it would sell $2.2
billion worth of assets to France's Total SA, including
stakes in oilfields and two thermal power stations.
Petrobras’s success in selling assets and expanding oil
production has encouraged investors even as it grapples
with a sprawling corruption scandal and low oil prices.
Shares have surged 121% this year.The transactions bring
Petrobras’s total asset sales for the past two year to
US$13.6bil, below its US$15.1bil target for the period.
Petrobras lifted its 2017-2018 asset sale target to US$21bil
to account for the shortfall
• January 2017 • Plastics News 58
