Petrobras is evaluating whether to offer Braskem improved payment terms on select contracts as the petrochemical producer seeks to resolve its mounting debt issues before an August 24 deadline to avoid bankruptcy filing, per sources. This move comes as Braskem races to restructure its financial obligations amid heightened pressure from creditors. Negotiations focus on balancing Petrobras's need to preserve liquidity with Braskem's urgent requirement for favorable credit conditions to meet production and payment deadlines.

The debt crisis centers on Braskem's struggle to service loans tied to its petrochemical operations, which have been strained by fluctuating oil prices and operational costs. Petrobras, as a major creditor, may adjust terms to ease Braskem's cash flow constraints, though the specifics remain under discussion. Any agreement would likely be temporary, contingent on broader negotiations with other stakeholders.

Failure to reach a resolution by the August 24 deadline could force Braskem to seek bankruptcy protection, triggering significant market repercussions. Analysts note that such a move would not only impact Braskem's operations but also destabilize Brazil’s petrochemical sector, given the companies' interconnected roles in the supply chain.