Petrobras Brasileiro Q2 2026 Earnings Call: Complete Transcript - Petrobras Brasileiro (NYSE:PBR)

Petrobras signed contracts for eight offshore exploration blocks in Côte d’Ivoire, marking a significant expansion in Africa. The company will operate all blocks with a 90% stake, while PETROCI Holding holds 10%. Petrobras plans to invest $109 billion through 2030, with $7.1 billion allocated for exploration. The move aligns with its strategy to diversify reserves and boost production.

Braskem's bondholders rejected a restructuring plan offering $2B in new capital, demanding Petrobras commit enforceable fresh capital. Petrobras, holding 36.1% of Braskem, has not agreed. Braskem's shares fell 49% in a year. The company faces a Nov. 22 deadline to secure creditor approval.

Petrobras (PBR) signed production-sharing contracts with Ivory Coast's government and state energy firm Petroci for eight offshore exploration blocks, expanding its presence in Africa.

Braskem SA (BAK) bondholders rejected a restructuring plan, demanding capital injection from Petrobras (PBR) and IG4 Capital. The proposal involves $2B in new money, including debt repurchases at 50% face value. Creditors insist on enforceable commitments, raising bankruptcy concerns.

Brazil's central bank cut the Selic rate to 13.75%, as expected. The real is trading near 5.15 per dollar, with key levels at 5.10 and 5.15. Petrobras announced diesel price changes offset by subsidies, keeping distributor costs unchanged. Traders focus on the Copom's December outlook and US data.

Brent and WTI crude oil prices rose 2.9% and 4.4% respectively due to a Saudi pipeline outage. USO, a WTI-tracking fund, gained 3.32%. Petrobras, Ecopetrol, and YPF shares increased 2.93%, 2.93%, and 2.27% respectively. The outage disrupted 4-5 million barrels per day, impacting global supply.