On October 1, Petroleo Brasileiro SA Petrobras rose 3.12% in regular trading, trading at $21.3186 per share, with turnover of approximately $315 million. The rally was driven by back-to-back signings of two major long-term LNG procurement agreements.

On September 29, Petroleo Brasileiro SA Petrobras agreed to purchase approximately 0.8 million metric tons per year of LNG from Cheniere Energy's subsidiary Cheniere Marketing on a free-on-board basis under a 22-year sale and purchase agreement. Earlier on September 15, the company signed a 20-year LNG supply deal with Sempra Infrastructure for an additional 0.8 million tonnes per annum, sourced from the Port Arthur LNG Phase 2 project in Texas, expected to begin commercial operations in 2030-2031. Together, the two contracts lock in roughly 1.6 million tonnes of annual LNG supply, significantly reducing exposure to spot market price volatility and enhancing long-term energy security.

Notably, UBS recently raised its price target on the stock to $23 from $22 while maintaining a Buy rating, and the company reported strong first-half results with net income of $16.63 billion, up 55.3% year-over-year.

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