Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 86

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 86
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 sale arising from the assessment at the fair value of assets, net of disposal expenses, mainly arising from Pescada
cluster, due to decommissioning cost review.

| 75 |

| INDEX |

In 2023, the Company recognized reversals on assets
held for sale in the amount of US$ 103 arising from the assessment at the fair value of assets, net of disposal expenses, mainly
arising from the approval for the disposal of Uruguá cluster (US$ 102).

In 2022, the Company recognized losses on assets
held for sale in the amount of US$ 151, arising from the assessment at the fair value of assets, net of disposal expenses, mainly:

| i. | producing properties relating to oil and gas activities                                                                      
 – a US$ 116 impairment loss, due to the revision of abandonment costs and of the recovery of areas of several concessions in 
 clusters Golfinho (a US$ 72 impairment loss), Pescada (a US$ 29 impairment loss) and Camarupim (a US$ 15 impairment loss);   
 and                                                                                                                          |

| ii. | refinery and associated logistics assets: approval                                                                    
 for the disposal of LUBNOR refinery, in the state of Ceará, resulting in the recognition of a US$ 44 impairment loss. |

The accounting policy for assets and liabilities
held for sale is set out in note 29.

| 25.3. | Investments in associates and       
 joint ventures (including goodwill) |

Value in use is generally used for impairment test
of investments in associates and joint ventures (including goodwill). The basis for estimates of cash flow projections includes: projections
covering a period of 5 to 12 years, zero-growth rate perpetuity, budgets, forecasts and assumptions approved by management and a post-tax
discount rate derived from the WACC or the Capital Asset Pricing Model (CAPM) models, specific for each case.

Accounting policy for impairment of associates and joint ventures

Investments in associates and joint ventures are
tested individually for impairment. When performing impairment testing of an equity-accounted investment, goodwill, if it exists, is also
considered part of the carrying amount to be compared to the recoverable amount.

Except when specifically indicated, value in use
is generally used by the Company for impairment testing purposes in proportion to the Company’s interests in the present value of
future cash flow projections via dividends and other distributions.

| 25.3.1. |