PETROBRAS is trading 3.04% up at BRL 44.42 after President Luiz Inácio Lula da Silva endorsed the company’s Morpho discovery in the Foz do Amazonas Basin.

  • The discovery identified hydrocarbons in an environmentally sensitive frontier area, strengthening expectations for future reserves and continued exploration.
  • Bloomberg and Reuters reported the find and Petrobras’s positive assessment; Lula called it a potential “passport” to Brazil’s future.
  • Brent crude was near $92 on August 20, supporting sector context, though the primary catalyst appears company-specific.