Petrobras shares plunged after posting weaker than expected Q2 results and warning it sees little chance of paying extraordinary dividends this year.

Brazilian state-run oil giant Petrobras sees little chance of paying extraordinary dividends this year, Chief Financial Officer Fernando Melgarejo said on Friday, citing lower revenues after a drop in global oil prices.

Brazil's state-owned oil company Petrobras posted a hefty net profit of $4.7 billion in the second quarter, recovering sharply from net losses in the same period last year, the company