Brazilian petrochemical giant Braskem SA on Thursday reported a sharp jump in quarterly profit, and its chief executive said it had proposed a flexible new supply contract with state-run oil firm Petrobras .
In a press conference to discuss Braskem’s second-quarter results, CEO Carlos Fadigas said the company had offered to buy naphtha from Petrobras, its second-biggest shareholder, at a price within 10 percent of the ARA international benchmark, but the companies had not reached a deal.
Brazilian prosecutors last month charged executives at engineering group Odebrecht SA, Braskem’s biggest shareholder, with paying bribes to Petrobras executives to secure a naphtha contract that allegedly cost the oil giant billions of dollars.
Brazil Energy Insight 
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