Braskem SA is increasing production despite falling prices following a peace deal between the US and Iran. The Brazilian petrochemical giant, backed by Petrobras, aims to capture market share while damaged Middle Eastern facilities remain offline.
Petrobras executive and Braskem board member William França expects rival plants to take 12 to 18 months to return to service. A significant global market recovery is projected to begin in 2028.
Braskem plans to raise plant efficiency from 70% to 85%. The company expects to reach this target by December. It previously ramped up output during the conflict-driven closure of the Strait of Hormuz.