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PBR - Braskem not sure it has earmarked enough for Alagoas payments
Petroleo Brasileiro S.A.- Petrobras
Braskem (BAK) falls sharply after saying it is not certain whether it has earmarked enough money to pay reparations in full in Brazil's Alagoas state for damage caused by one of its mining salt projects.Braskem says it expects to spend 1B reais in payments this year and perhaps a bit more in 2021.The company also says it is still negotiating a naphtha contract with Petrobras ([[PBR]] -0.1%) and hopes to finalize it before December.Braskem earlier reported Q3 net sales that beat analyst estimates.