Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 143

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 143
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, 2024 were for dividend payments and share repurchase program amounting to US$18,784 million, debt service obligations, including pre-payment of debts in the international banking market, interest on finance debt, repurchase of securities in the international capital market and lease payments totaling US$16,349 million and acquisition of PP&E and intangibles assets in the amount of US$14,644 million. These funds were mainly provided by cash from operating activities of US$37,984 million, proceeds from divestments of US$863 million, proceeds from financing of US$2,129 million, and financial compensation from co-participation agreements of US$397 million.
 

Annual Report and Form 20-F 2024 |
Source of Funds
 In 2024, our financing strategy was mainly based in managing our existing financial liabilities, aiming to extend short-term debt maturities and improving our capital structure, preserving our solvency and liquidity.
Cash Flows from Operating Activities 
 Net cash provided by operating activities was US$37,984 million in 2024, a decrease of 12% from US$43,212 million in 2023, mainly due to lower margins on oil products (especially diesel and gasoline), as well as lower prices and volumes. Additionally, higher costs of sold oil and payments related to the tax settlement program contributed to the decrease.
Disposal of Assets
 In 2024, we received cash inflow from the sale of assets amounting to US$863 million, relating to installments of sales occurred in previous years, mainly of Carmópolis field (US$296 million), Pampo and Enchova fields (US$92 million) and Baúna field (US$86 million). For more information, see Note 29 to our audited consolidated financial statements.
 From January 1, 2025 through February 28, 2025, we received US$277 million from the sale of several fields, mainly an earnout from the sale of Albacora Leste field (US$174 million) and an installment from the sale of Baúna field (US$88 million).
 For additional information on divestments, see “Mergers and Acquisitions” in this annual report.
 
Debt
 Our proceeds from financing are comprised of local and global notes issued in the capital markets and funds raised from banking markets (in Brazil and abroad).
 Additionally, our total debt includes lease liabilities. Our Gross Debt (which represents the sum of current and