Movement Alert|Petrobras Rises 3.04% in Regular Trading, H1 Net Profit Surges 55.3% Amid Record Production and New LNG Supply Deal

Market Focus
Sep 15

On September 15, Petrobras (PBR.A) rose 3.04% in regular trading, supported by a confluence of positive catalysts including strong first-half earnings, record-breaking production, and a newly signed long-term LNG supply agreement.

On the earnings front, Petrobras reported H1 net profit attributable to shareholders of $16.627 billion, up 55.3% year-over-year from $10.708 billion. Total revenue reached $57.14 billion, a 35.7% increase, while gross profit climbed 51.1% to $30.833 billion. Cash and cash equivalents stood at $10.418 billion on an adjusted basis as of June 30.

Production momentum remained robust, with Q2 total oil and gas output hitting 3.34 million barrels of oil equivalent per day, a 14.1% year-over-year increase. July production further surged to a record 4.5 million barrels per day, up 13.6% year-over-year. The company was also granted approval to drill additional wells in the Amazon River Mouth Basin, reinforcing its long-term growth outlook.

Additionally, Sempra Infrastructure announced a 20-year LNG purchase agreement with Petrobras for 800,000 tonnes per year, sourced from the Port Arthur LNG Phase 2 project in Texas, further strengthening Petrobras's energy supply positioning.

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