Comperj project cost rises by over US$40 bln since 2006, viability questioned

01-Apr-15

Cost estimates at the Comperj refinery project have escalated to US$47.7 bln from US$6.5 bln in 2006, with Brazil's auditing TCU body claiming negligence and lack of transparency on the part of national oil company Petrobras, in breach of federal laws, as per BNAmericas. No comments are available from the company. The cost overruns were not an isolated case, however. Months after the official unveiling in 2006, the total investment increased to US$8.4 billion as a result of a change in the scope of the project, the report said.