Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 81

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 81
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 and grants Vibra a non-exclusive, paid, temporary license on certain trademarks we own, including but not limited to “Petrobras,” “Petrobras Podium,” “Petrobras Premmia,” “De Olho no Combustível,” “BR Aviation” and “Petrobras Grid.” The contract expires in June 2029 and must comply with the established debranding obligations.
 Under the terms of this agreement, the license is granted exclusively to the service station and aviation segments, for which Vibra shall exclusively use the brands licensed by us. Meanwhile, during the term of the trademark license agreement, we undertake to refrain from operating in the service stations sector across the Brazilian territory. The definition of a “service station” under this agreement is any facility where oil and gas products and services and/or services related to any other energy sources (renewable or otherwise) intended to power automotive vehicles and watercrafts are offered to the Business-to-Consumer (or B2C) public, including convenience stores. In January 2024, we notified Vibra that we have no interest in extending the trademark license agreement under the current terms. The parties have been evaluating the need for modifications to the license. We expect this decision will permit us to evaluate new brand management strategies and business opportunities.
 We also participate in the retail sector in other South American countries, as follows:
 
–                                             Colombia:                                          
                                   our operations through Petrobras                              
     Colombia Combustibles S.A. (PECOCO) include 121 service stations and a lubricant plant with 
        a production capacity of 54,000 m3/year. PECOCO was in Petrobras divestment portfolio    
         until March 2025 when our Executive Board approved the termination of the divestment    
    project, in line with the current strategic drivers, which consider portfolio diversification
                           both profitable and sustainable for the company;                      
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–                                               Chile:                                            
                                      following the sale of our                                   
       distribution operations in Chile, which was concluded in January 2017, we entered into a   
      brand licensing agreement in that country, for the initial term of eight years. To operate  
      our acquired assets in Chile, Southern Cross created Esmax, a company that operates as our  
    licensee in the fuel distribution segment. In July 2024, after the sale of Esmax from Southern
     Cross to Aramco, Petrobras and Esmax reached an agreement to extend the contract term until  
    December