On September 8, Petroleo Brasileiro SA Petrobras rose 3.5% in regular trading, trading at $20.985/share, with turnover of $43.46 million.

On the news front, a Brazilian tax appeals court recently overturned a prior fine of approximately 3.4 billion reais imposed on the company, directly eliminating a significant contingent liability and delivering a material positive impact on cash flow and profit expectations. Meanwhile, strengthening international oil prices provided broad support to the energy sector, with peers BP up 3.13%, Shell up 2.70%, Chevron up 1.95%, and Occidental up 2.42%.

On the fundamentals side, the company reported first-half net income attributable to shareholders of $16.627 billion, a 55.3% year-over-year increase from $10.708 billion in the prior-year period. First-half total revenue reached $57.14 billion, up 35.7% year-over-year. Second-quarter EPS came in at $1.62, beating the analyst consensus estimate of $1.36 by approximately 19%. Quarterly net income surged to $10.43 billion from $4.73 billion a year earlier, while revenue rose to $33.61 billion from $21.04 billion.

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