Petrobras soars on record profit day for oil giant

Petrobras shares soared on the Brazilian Stock Exchange this Friday (29), a day filled with positive news for this segment, with emphasis on the record profit of giants in the sector in the United States. The global rise in oil is behind these results.

At around 1:30 pm, the preferred shares of the state-owned oil company climbed 5.7%, at R$34.14, while the common shares jumped 7.2%, at R$37.20. As a result, prices reached the maximum since mid-May.

The day before, the company announced that its profit rose to R$ 54.33 billion in the second quarter, while the adjusted operating result totaled R$ 98.26 billion. On the same day, the company had already announced the decision to distribute R$ 87.8 billion as dividends for the quarterly result.

This Friday, the sector celebrates the profits of Exxon, Chevron and Shell. The three biggest Western oil companies racked up a record $46 billion in second-quarter earnings, fueled by the highest energy prices in more than a decade and profitable oil refining margins, The Wall reported. Street Journal.

Exxon, the largest U.S. oil company, said on Friday its second-quarter profit rose to $17.9 billion, an all-time high and nearly four times as much as last year. same period last year.

Rival Chevron also posted record profit this Friday of US$ 11.6 billion (R$ 60 billion).

On the international market, the reference price for oil was rising again. The barrel of Brent advanced 2.98%, at US$ 110.33 (R$ 572.37), touching the maximum for the month.

“It’s a little bit of everything,” said Ilan Arbetman, an analyst at Ativa Investimentos, referring to the broth of encouraging information for the sector.

He also considers the moderate recession scenario indicated by the drop in US GDP the day before as positive, understood by the market as a sign that the Fed (Federal Reserve, the US central bank) will not need to raise interest rates as aggressively as expected to hold back inflation.

“The scenario today is one of lower risk aversion, which is positive for cyclical sectors, such as oil,” commented Arbetman.

He pointed out that, although the scenario is positive for the entire sector, the payment of dividends above expectations gave Petrobras an extra boost. “I also see the effect of dividends from Petrobras, which today has a higher growth than some peers.”

Other companies in the oil sector were also robust in this session of B3, the Brazilian Stock Exchange. 3R Petroleum jumped 6.06%, while PetroRio gained 2.56%.