Amoco waiting for end Petrobras monopoly

Jul 14, 1997 02:00 AM

June 23, 1997 Amoco plans to expand its business in Brazil by investing in oil & gas research and development and thermal energy projects. It only awaits the new regulation that will put an end to Petrobras' monopoly. Amoco posted a turnover of $ 140 mm in Brazil over 1996. The amount corresponds to its partnership with Rhodia in the PTA business, chemical products imports and industrial polypropylene. Rhodia and Amoco will develop together until the year 2000 a PTA project that will allow a production of 420,000 tons per year. The project will demand investments of $ 400 mm and probably be implemented in Paulinia (Sao Paulo).

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