Company Update
Petrobras Profit Surges as Gas Prices Rise, Stock Hits 14-Year High
Petrobras Q2 profit jumped 97% to $10.4 bn, dividends of R$17.4 bn (~$3.5 bn) approved, and stock broke a 14‑year ceiling near $17, reaching new highs. U.S. shares rose ~10% after Brazil’s runoff election results, with the runoff on Oct 25 seen as a catalyst. Gas prices are up 41% YoY, diesel up 69%, adding ~$1,000 to average household bills.