Petrobras Nearly Doubles Dividend on Strong Q2 Earnings

Petrobras reported adjusted reoccurring EBITDA of BRL 99.3 billion compared with BRL 60.0 billion a year before. Higher oil prices were the primary factor lifting exploration and production's adjusted EBITDA to BRL 78.5 billion from BRL 51.2 billion a year ago. Total production volumes fell to 2,653 mboe/d from 2,796 mboe/d a year earlier, on higher maintenance and the start of a production sharing agreement for Atapu and Sepia fields as low-cost presalt volumes reached 73% of total volumes.