Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 30

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 30
---
ating segments is prepared based on available financial information directly attributable to each segment, or items that can be allocated
to each segment on a reasonable basis. This information is presented by business activity, as used by the Company’s Board of Executive
Officers (Chief Operating Decision Maker – CODM) in the decision-making process of resource allocation and performance evaluation.

The measurement of segment results includes transactions
carried out with third parties, including associates and joint ventures, as well as transactions between operating segments. Transfers
between operating segments are recognized at internal transfer prices derived from methodologies that considers market parameters and
are eliminated only to provide reconciliations to the consolidated financial statements.

The Company's business segments disclosed separately
are:

Exploration and Production (E&P): this
segment covers the activities of exploration, development and production of crude oil, NGL (natural gas liquid) and natural gas in Brazil
and abroad, for the primary purpose of supplying its domestic refineries. The E&P segment also operates through partnerships with
other companies and includes holding interest in foreign entities operating in this segment.

As an energy Company with a focus on oil and gas,
intersegment sales revenue refers mainly to oil transfers to the Refining, Transportation and Marketing segment, aiming to supply the
Company's refineries and meet the domestic demand for oil products. These transactions are measured by internal transfer prices based
on international oil prices and their respective exchange rate impacts, taking into account the specific characteristics of the transferred
oil stream.

In addition, the E&P segment revenues include
transfers of natural gas to the natural gas processing plants within Gas and Low Carbon Energies segment. These transactions are measured
at internal transfer prices based on the international prices of this commodity.

Revenue from sales to third parties mainly reflects
services rendered relating to E&P activities, sales of the E&P’s natural gas processing plants, as well as the oil and natural
gas operations carried out by subsidiaries abroad.

Refining, Transportation and Marketing (RT&M):
this segment covers the refining, logistics, transport, acquisition and exports of crude oil, as well as trading of oil products, in Brazil
and abroad. This segment also includes the petrochemical operations (which comprehends holding interests in petrochemical companies in
Brazil), and fertilizer production.

| 31 |

| INDEX |

This segment carries out the acquisition of crude
oil from the E&P segment, imports oil for refinery slate, and acquires oil products in international markets taking advantage of the
existing price differentials between the cost