Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 35

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 35
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able information, such as the existence of contractual or financial guarantees, which have the potential to influence
credit risk, thus affecting the application of the risk matrix percentages.

The Company assumes that the credit risk on the
trade receivable has not increased significantly since initial recognition if the receivable is considered to have low credit risk at
the reporting date. Low credit risk is determined based on external credit ratings or internal methodologies.

In the absence of controversy or other issues that
may result in the suspension of collection, the Company assumes that a default occurs whenever the counterparty does not comply with the
legal obligation to pay its debts when due or, depending on the instrument, when it is at least 90 days past due.

| 15. | Inventories |

|                                             | 12.31.2024 | 12.31.2023 |
| Crude oil                                   |      2,645 |      3,375 |
| Oil products                                |      2,161 |      2,196 |
| Intermediate products                       |        424 |        635 |
| Natural gas and Liquefied Natural Gas (LNG) |        101 |         78 |
| Biofuels                                    |         22 |         13 |
| Fertilizers                                 |          1 |          1 |
| Total products                              |      5,354 |      6,298 |
| Materials, supplies and others              |      1,356 |      1,383 |
| Total                                       |      6,710 |      7,681 |

Crude oil can be traded or used for production
of oil products.

Oil products mainly include diesel, gasoline, jetfuel
and naphta, and are generally traded.

Intermediate products are those product streams
that have been through at least one of the refining processes, but still need further treatment, processing or converting to be available
for sale.

Natural gas is initially processed, and its derivatives
are subsequently traded or transferred to thermoelectric power plants and refineries, while LNG can be traded or converted to natural
gas.

Biofuels mainly include ethanol and biodiesel inventories.

Materials, supplies and others mainly comprise
production supplies and operating materials used in the operations of the Company, stated at the average purchase cost, not exceeding
replacement cost.

In 2024, the Company recognized a US$ 42
reversal of cost of sales, adjusting inventories to net realizable value (a US$