Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 91

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 91
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 which we have an equity interest and “third
                parties” refer to those in which we do not have equity interest.          
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(3)                                      Estimates                                    
      are based on outside sales and do not include internal consumption or transfers.
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(4)                                              Prices                                          
      may be adjusted in the future, according to formula defined in contract, and actual amounts
                                               may vary.                                         
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(5)                                           Estimated                                         
       payments are calculated using gas prices expected for each year based on our Brent Crude 
      Oil price forecast. Gas prices may be adjusted in the future based on contract clauses and
                      amounts of natural gas purchased by us may vary annually.                 
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(6)                                      Amounts                                    
      calculated based on current prices defined in natural gas transport contracts.
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(7)                                                   The                                                
      ship-or-pay contract shown with TBG is eliminated in our audited consolidated financial statements,
                          since such contract is considered intercompany transactions.                   
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(8)                                               The                                             
      sum of legacy contracts (TCO and CPAC) was considered with the new entry and exit contracts,
                                        object of public calls.                                   
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(9)                                      The                                    
      volumes may increase as a result of public calls for contracting capacity.
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(10)                                               The                                             
         estimated payments from Petrobras to NTS will be monthly reduced in order to reflect the  
       payments made by other companies to NTS in the gas transportation contracts signed as result
        of the agreement of reduction of flexibility signed between Petrobras and NTS in September 
                                                  2022.                                            
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(11)                                               The                                             
         estimated payments from Petrobras to TAG will be reduced monthly in order to reflect the  
       payments made by other companies to TAG in the gas transportation contracts signed as result
        of the agreement of reduction of flexibility signed between Petrobras and TAG in December  
                                                  2021.                                            
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Annual Report and Form 20-F 2024 |
Power
 Brazilian electricity needs are mainly met by hydroelectric power plants and other sources of energy (wind, solar, coal, nuclear, fuel oil, diesel oil, natural gas used in thermoelectrics, and others). The regulatory framework of the electric energy market in Brazil comprises two trading environments: the Free Marketing Environment (ACL) and the Regulated Marketing Environment (ACR).
 Hydroelectric power plants output is dependent on the annual level of rainfall. When rainfall is abundant, Brazilian hydroelectric