Braskem (BAK) sets 2026–2030 Petrobras naphtha supply and REFAP storage terms
Rhea-AI Filing Summary
Braskem S.A. discloses new long-term related-party contracts with Petróleo Brasileiro S.A. – Petrobras, a shareholder with significant influence, covering the supply and storage of petrochemical naphtha in Brazil. From January 1, 2026 to December 31, 2030, Braskem will buy naphtha from Petrobras for its São Paulo Petrochemical Complex in annual volumes between 1,500,000 and 1,700,000 tons, with pricing based on international references and the option to negotiate extra volumes.
Additional purchase agreements cover naphtha supplied via maritime transport for the Bahia and Rio Grande do Sul complexes, with contractual volumes between 280,000 and 2,016,000 tons per year, and a separate contract for the Rio Grande do Sul plant via REFAP with stepped annual volumes from 100,000 up to 300,000 tons. A storage agreement allocates REFAP tank space for naphtha owned by Braskem, starting at 80,000 m³ and later decreasing to 36,000 m³. Braskem states that Petrobras and its managers did not take part in Braskem’s decision process or negotiations and that pricing is referenced to international markets.
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Insights
Braskem secures multi-year naphtha supply and storage with related-party Petrobras.
Braskem has entered a set of contracts with Petrobras for petrochemical naphtha supply and storage running from January 1, 2026 to December 31, 2030. These include large annual volumes for the São Paulo Petrochemical Complex between 1,500,000 and 1,700,000 tons, a wide volume band of 280,000 to 2,016,000 tons via maritime transport for the Bahia and Rio Grande do Sul complexes, and a stepped schedule up to 300,000 tons per year for the Rio Grande do Sul plant via REFAP. Pricing tied to international benchmarks means Braskem’s feedstock costs will move with global markets rather than a fixed domestic formula.
The REFAP tank allocation, starting at 80,000 m³ and later declining to 36,000 m³, supports inventory management at that site over the same term. Governance-wise, Petrobras is identified as a shareholder with significant influence, but Braskem notes that Petrobras and its managers did not participate in Braskem’s decision process or negotiations, and justifies the terms by reference to international prices. The actual financial impact will depend on future naphtha prices and Braskem’s utilization of the contracted volume bands over 2026–2030.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of December, 2025
(Commission File No. 1-14862 )
BRASKEM S.A.
(Exact Name as Specified in its Charter)
N/A
(Translation of registrant's name into English)
Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F ______
Indicate by check mark if the registrant is
submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
Indicate by check mark if the registrant is
submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
Indicate by check mark whether the
registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No ___X___
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.
NOTICE ON RELATED-PARTY TRANSACTIONS
| Parties | Braskem and Petróleo Brasileiro S.A. – Petrobras ("Petrobras") |
| Relationship with the issuer | Petrobras is a Shareholder with Significant Influence over Braskem. |
| Purpose |
Execution of the following contracts: · Purchase by Braskem of petrochemical naphtha supplied by Petrobras for the supply of the São Paulo Petrochemical Complex; · Purchase by Braskem of petrochemical naphtha supplied by Petrobras, via waterway, for the supply of the Bahia and Rio Grande do Sul Petrochemical Complexes; · Purchase by Braskem of petrochemical naphtha supplied by Petrobras, for the supply of the Rio Grande do Sul Petrochemical Complex (via REFAP); · Assignment of tank space at REFAP for the inventory of naphtha owned by Braskem.
|
| Key Terms and Conditions |
1) Purchase contract by Braskem for naphtha supplied by Petrobras to the São Paulo Petrochemical Complex Term: from January 1, 2026, to December 31, 2030. Pricing: based on international references. Contract volumes: between 1,500,000 and 1,700,000 tons per year of naphtha, to be delivered to Braskem at Q3 SP, with the possibility of negotiating additional volumes. 2) Purchase contract by Braskem for petrochemical naphtha supplied by Petrobras, via maritime transport, to supply the Petrochemical Complexes in Bahia and Rio Grande do Sul Term of validity: from January 1, 2026, to December 31, 2030. Pricing: based on international references. Contractual volumes: between 280,000 and 2,016,000 tons per year of naphtha, to be delivered to Braskem at the Q1/BA and Q2/RS maritime terminals, with the possibility of negotiating additional volumes. 3) Purchase agreement by Braskem for petrochemical naphtha supplied by Petrobras, for the supply of the Petrochemical Plant of Rio Grande do Sul (via REFAP) Term of validity: from January 1, 2026, to December 31, 2030. Pricing: based on international benchmarks. Contractual volumes: 100,000 / 150,000 / 200,000 / 250,000 / 300,000 tons, respectively, per year of the contract term, with the possibility of negotiating additional volumes. 4) Agreement for the allocation of space in REFAP tanks for the inventory of naphtha owned by Braskem: Term: from January 1, 2026, to December 31, 2030. Pricing: the contract will provide for a base price and a reduction in the tariff for each cycle of the contracted volume within the month. Contractual volumes: the agreed volume for storage at REFAP will be reduced over the course of the contract, being: · 80,000 m³ from January 1, 2026, to July 31, 2028 36,000 m³ from August 1, 2028, to December 31, 2030. |
| Transaction date | 12/18/2025 |
| Possible participation of the counterparty, its partners, or managers in the issuer's decision making process or negotiation of the transaction as representatives of the issuer | The counterparty and its partners and managers have not participated in Braskem’s decision process or the negotiations of the mentioned transaction. |
| Detailed justification of the reasons why the issuer's management considers that the transaction has complied with commutative conditions or provides for an appropriate reverse payment | Referring to the purchase of petrochemical naphtha based on international prices. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: December 23, 2025
| BRASKEM S.A. | |||
| By: | /s/ Felipe Montoro Jens | ||
| Name: | Felipe Montoro Jens | ||
| Title: | Chief Financial Officer | ||
DISCLAIMER ON FORWARD-LOOKING STATEMENTS
This report on Form 6-K may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are statements that are not historical facts, and are based on our management’s current view and estimates of future economic and other circumstances, industry conditions, company performance and financial results, including any potential or projected impact of the geological event in Alagoas and related legal proceedings and of COVID-19 on our business, financial condition and operating results. The words “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the potential outcome of legal and administrative proceedings, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting our financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of our management and are subject to a number of risks and uncertainties, many of which are outside of the our control. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors, including the projected impact of the geological event in Alagoas and related legal proceedings and the unprecedented impact of COVID-19 pandemic on our business, employees, service providers, stockholders, investors and other stakeholders, could cause actual results to differ materially from current expectations. Please refer to our annual report on Form 20-F for the year ended December 31, 2019 filed with the SEC, as well as any subsequent filings made by us pursuant to the Exchange Act, each of which is available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.
FAQ
What related-party contracts did Braskem (BAK) enter into with Petrobras?
Braskem entered into multiple contracts with Petróleo Brasileiro S.A. – Petrobras covering the purchase of petrochemical naphtha for its São Paulo, Bahia, and Rio Grande do Sul petrochemical complexes and a separate agreement for tank storage space at REFAP for naphtha owned by Braskem.
What is the term of Braskem’s new naphtha supply and storage contracts with Petrobras?
All four contracts disclosed run from January 1, 2026 to December 31, 2030, providing a defined five-year period for naphtha supply to the São Paulo, Bahia, and Rio Grande do Sul complexes and for storage at REFAP.
What volumes of naphtha will Braskem (BAK) purchase from Petrobras under these agreements?
For the São Paulo Petrochemical Complex, Braskem will purchase between 1,500,000 and 1,700,000 tons per year. For Bahia and Rio Grande do Sul via maritime transport, volumes range between 280,000 and 2,016,000 tons per year. For the Rio Grande do Sul plant via REFAP, annual volumes are scheduled at 100,000, 150,000, 200,000, 250,000, and 300,000 tons over the contract term, in each case with the possibility of negotiating additional volumes.
How is pricing determined in Braskem’s naphtha contracts with Petrobras?
Braskem states that pricing for the naphtha purchase contracts is based on international references or benchmarks. Management justifies the transactions by referring to the purchase of petrochemical naphtha at international prices, rather than fixed or purely domestic pricing.
What are the terms of the storage agreement at REFAP for Braskem’s naphtha?
The storage agreement at REFAP allocates tank space for naphtha owned by Braskem from January 1, 2026 to December 31, 2030. The contracted storage volume is 80,000 m³ from January 1, 2026 to July 31, 2028, then decreases to 36,000 m³ from August 1, 2028 to December 31, 2030, with pricing including a base price and a tariff reduction for each cycle of the contracted volume within the month.
Did Petrobras influence Braskem’s decision-making in these related-party transactions?
Braskem states that the counterparty, Petrobras, and its partners and managers did not participate in Braskem’s decision process or the negotiations of the transactions, even though Petrobras is described as a shareholder with significant influence over Braskem.
