Company: PBR
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001292814-25-002093
Chunk: 11

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-15
Form: 6-K
Chunk 11
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4 |
| EBITDA margin of the segment (%)                                |      5 |      8 |      9 |                -2 |          -4 |
| ROCE (Return on Capital Employed) (%)                           |    1.2 |    2.5 |    5.0 |              -1.3 |        -3.8 |
| Refining cost (US$ / barrel) - Brazil                           |   2.62 |   2.48 |   2.63 |               5.6 |        -0.4 |
| Price of basic oil products - Domestic Market (US$/bbl)         |  86.58 |  83.30 |  96.13 |               3.9 |        -9.9 |
| (1) Changes in EBITDA and ROCE margins in percentage            
 points.                                                         |        |        |        |                   |             |

In 1Q25, gross profit was
US$ 0.3 billion lower than in 4Q24, reflecting mainly lower margins on oil products produced for the domestic market. Considering the
effect of inventory turnover of US$ 288 million in 1Q25 and US$ 383 million in 4Q24, the gross profit would have been US$ 0.8 billion
in 1Q25 and US$ 1.1 billion in 4Q24.

There were lower margins on
oil products in the domestic market, mainly for gasoline, in addition to a decrease in sales volume due to the typical seasonality of
the first quarter, primarily impacting gasoline and LPG.

The operating income in 1Q25
was lower than in 4Q24, reflecting the reduction in gross profit, partially offset by lower operating expenses.

In 1Q25, refining costs per
barrel in USD were 5.6% higher than in 4Q24, mainly due to the lower processed throughput (-6.1%) resulting from the scheduled general
shutdown of RNEST.

| Performance Report 1Q25 I 16 |

RESULTS BY SEGMENT

Gas and Low Carbon Energies

Table 9 – G&LCE results

|                                                                                                                                       |       |       |       | Variation (%) (1) |             |
| US$ million                                                                                                                           |  1Q25 |  4Q24 |  1Q24 |       1Q25 X 4Q24