Brazil’s state-controlled oil company Petróleo Brasileiro SA agreed to buy 82,000 cubic meters (515,764 barrels) of gasoline from Braskem SA in November, bolstering supplies of the fuel as Petrobras faces its biggest strike in 20 years.
Petrobras, which owns 36 percent of Braskem, signed the contract on Oct. 26 and will receive the fuel from the petrochemical company’s operations in the states of Rio Grande do Sul, São Paulo and Bahia, Petrobras said in a regulatory filing late on Wednesday.
No price was given, but the cost reflects the lower retail price for gasoline in Brazil than in the international market.
Petrobras and Braskem have been in talks about extending a long-term naphtha supplying contract for months. Petrochemical naphtha, a light hydrocarbon, is a common feedstock for petrochemical firms like Braskem. Naphtha itself can be blended to make gasoline.
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Brazil Energy Insight 
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