Petroleo Brasileiro S.A.-Petrobras (PBR.A)

Vallourec announced the appointment of Jérôme Favre as Director of OCTG, Services and Accessories, joining the Executive Committee. Favre, with over a decade of experience in OCTG sales across strategic regions, succeeds Laurent Dubedout in this role.

Traders are anticipating a significant shareholder payout from Petrobras due to strong financial performance and potential resolution of government investment tensions, with an unprecedented surge in call option volume signaling market confidence.

Petrobras shares rose 3% after announcing a $3.4 billion extraordinary dividend payout to shareholders, including cash from a capital reserve previously held for 2023 dividends. The company also outlined its strategic plan for 2025-2029, focusing on sustainable practices and pre-salt asset development.

Major oil companies are aggressively pursuing a stake in Galp Energia's significant oil discovery offshore Namibia, despite the global push towards renewable energy. This highlights the belief that the demand for oil and gas will persist well into the future.

For many months, Petrobras stock (PBR)(PBR.A) traded at a significant discount. Read more to see why I rate the stock as a hold.