Company: PBR
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001292814-25-002093
Chunk: 6

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-15
Form: 6-K
Chunk 6
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108 |         -57.4 |       -48.9 |
| Others                                      |   104 |   163 |   101 |         -36.6 |         2.4 |
| Subtotal                                    | 4,065 | 5,729 | 3,043 |         -29.0 |        33.6 |
| Signature bonus                             |     − |     2 |     − |             − |           − |
| Total                                       | 4,065 | 5,731 | 3,043 |         -29.1 |        33.6 |
| (*) See Glossary for investment definitions |       |       |       |               |             |

In 1Q25, Capex totaled US$ 4.1 billion,
representing a reduction of 29.1% in comparison to 4Q24 and an increase of 33.6% compared to 1Q24. 1Q25 performance reinforces the atypical
nature of the investment level observed in 4Q24, which was explained by the closing of the gap between the physical and financial progress
of the Búzios platforms, as a response to the actions implemented throughout the second half of 2024.

In the Exploration & Production segment,
Capex totaled US$ 3.5 billion in 1Q25, a reduction of 28.5% compared to 4Q24. This decrease mainly reflects the financial advancement
efforts concentrated in the previous quarter for the platforms under construction for the Búzios field, which helped mitigate the
risks of delays and increased the potential for anticipations.

Compared to 1Q24, however, there was an
increase of 41.7% in Capex, mainly due to progress on major pre-salt projects in Santos Basin, particularly the Búzios and Atapu
fields’ new production systems.

In the Refining, Transportation and Marketing
segment, Capex totaled US$ 0.4 billion in 1Q25, mainly driven by scheduled refinery shutdowns, the completion of RNEST’s Train 1
revamp, and progress on REPLAN’s middle distillates hydrotreating (HDT) project.

Additionally, it is worth highlighting
the production start-up in 1Q25 of the leased FPSO Almirante Tamandaré (Búzios 7), which resulted in the recognition of
US$ 2