Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 88

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 88
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 Factors – 6.b) The competitive environment of the Brazilian oil and gas market may intensify the requirements for our performance levels to remain in line with the best companies in the sector. The need to adapt to a competitive and complex environment may compromise our ability to implement our current Strategic Plan or any subsequent plans adopted” and “Mergers and Acquisitions” in this annual report.
 In 2023, the GAS+ Program was renamed as Gas & Energy + Program (also called “Gas and power plus Program” and “G&E+”), reinforcing actions aimed at the gas business and including actions focused on the energy business.
 The G&E+ aims to strengthen our competitive position in the natural gas open market. This program focuses on offering the best customer relationship experience and developing and delivering products with commercial conditions adherent to customers’ needs, to achieve the established market share and profitability goals. It includes initiatives such as the launch of new commercial products, new forms of customer relationships, and digital tools (such as digital contracts and sales through automated platforms), as well as actions in the field of regulation and new business models (such as alignment of regulatory procedures for the review of the Unit Variable Cost (UVC) thermal and LNG market).
 Throughout 2024, several G&E+ initiatives were implemented. The development of these initiatives is monitored periodically, at different levels of management, following the established project management structure. The main achievements for 2024 are highlighted below:
 
–         recontracting       
    our natural gas portfolio;
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–                                implementation                            
    of the new Customer Relationship Management platform (Evoluir Project);
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–                                           development                                        
    of appropriate processes and tools for the new market (Commercialization Planning/Transport
                                           Contracting);                                       
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–                       expansion                    
    of sales in the Natural Gas free environment; and
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–                                      implementation                                   
    of new digital solutions for operational optimization (G&amp;E Competitive Project).
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Annual Report and Form 20-F 2024 |

Natural gas sales contracts and long-term gas purchase and transportation commitments
 We sell our gas primarily to local gas distribution companies, free industrial consumers and gas-powered plants, generally based on standard take-or-pay, long-term supply contracts. Free consumers are consumers that, if eligible, can freely negotiate their natural gas purchases from multiple suppliers instead of buying directly from a single distribution company. The price formulas under these contracts are mostly aligned with Brent oil prices, LNG price markers (Henry Hub and Japan Korea Marker) and the