Petrobras informs that its Executive Board approved today a new long term naphtha supply agreement with Braskem, for the amount of 7 million ton/year.

The contract has five years duration and rate of 102.1% of the price of naphtha in the northwest of Europe (ARA).

The agreement also foresees the possibility of renegotiation of the commercial terms, from 2018 on, depending on pre-determined market conditions.