Dec 11 Brazil’s energy minister Eduardo Braga said on Friday that he expects Brazil’s state-run oil company Petroleo Brasileiro SA to sign a naphtha supply contract with Brazilian petrochemical company Braskem SA by Dec. 15.

Earlier on Friday, Braskem Chief Executive Officer Carlos Fadigas said months of talks with Petrobras, as the state-run oil company is known, are nearly complete and will result in Braskem paying a price “slightly above” the European reference price for naphtha, a petrochemical feedstock. (Reporting by Priscila Jordão; Writing by Jeb Blount; Editing by Chizu Nomiyama)