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Reply To: Petrobras will double in size in seven years

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Charles Randall

Nope different cases. Comperj couldn’t find Petchem partner & was designed to  Export products despite high domestic need ……also never really made past Planning/Feed stage.
It was always aggressive of Petrobras to have Comperj in plans for current coking cycle (2012-2017) and was expected to lag into next one (~2018-2023) especially given how aggressive projects were in last cycle & Petrobras 2009 5 year plan where several of existing refinery upgrades/cokers have lagged into this cycle.So ….. it is likely capital/ethanol/gasoline/environmental reasons halted it and rapid downturn of market make it prudent to do it ASAP.  
I am sure if better run companies are pulling back – other LA Govt ones are going to be hit really hard ….especially those that do check book politics funded by oil like Venezuela or those that are robbed by Govt for support like Pemex (and its getting harder tell difference between those two).
Abreu e Lima Refinery – better known as Pernambuco (RNEST) has been in the EPC (engineering/Procurement/Construction) stage since 2007 when they first told PDVSA to go pound salt.
PDVSA wanted to link upgrader to refinery but tried usual commitment stall/hog earnings and Brazil started off  unwilling consider them seriously because they didn’t need imported syncrude since they had just discovered abundance offshore crude.
Northern Brazil ~isolated system long way from infrastructure Petrobras with captive demand.
Last I saw in Mar 2013 they were 60% done with target date 2016 completion & know Curtis Wright was doing the coker auto unheading system – but not seen anything on coker status – drums should be built & delivered by now.  
The Argus Petcoke Conf Sept 2012 had a Petrobras presentation with construction overview shot & quick search I found a ~spot holder coker photo.  

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