Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 172

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 172
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 of business in numerous transactions with our controlling shareholder, the Brazilian federal government, and with banks and other entities under its control, including financing and banking, asset management and other transactions. These transactions resulted in a US$13,379 million asset and a US$3,885 million liability with the Brazilian federal government and other entities under its control as of December 31, 2024.
 On November 30, 2020, there was a final decision in relation to the Petroleum and Alcohol Account lawsuit filed in 2011. On June 26, 2024, we received the second and final installment of the judicialized debts with the Brazilian Federal Government (precatórios), arising from the Petroleum and Alcohol Account. We immediately deposited this amount as a guarantee in a tax lawsuit. The deposit amounts to US$224 million as of December 31, 2024.
 In addition, we are allowed to invest in securities issued by the Brazilian federal government, provided that the legal and regulatory requirements are met and we have taken into consideration market’s best practices and the conservatism that should guide our investments.
 As of December 31, 2024, the balance of securities issued by the Brazilian federal government that have been directly acquired and held by us amounted to US$1,114 million.
 For further information on related party transactions, see Note 34 to our audited consolidated financial statements.
 

Annual Report and Form 20-F 2024 |
Controls and Procedures
 
Disclosure Controls and Procedures
 We, together with our CEO and CFO, have evaluated the effectiveness of our disclosure controls and procedures as of December 31, 2024. Our CEO and CFO concluded that our disclosure controls and procedures were effective to provide reasonable assurance that the information we are required to disclose in the reports that we file or submit under the Exchange Act was being recorded, processed, summarized and reported within the time periods specified in the applicable rules and forms. They also concluded that such disclosure was compiled for and communicated to our management, including our CEO and CFO, as appropriate, to allow for timely decisions regarding the required disclosure.
Management’s Report on Internal Control over Financial Reporting
 Our management is responsible for establishing, adequately maintaining and assessing the effectiveness of internal control over financial reporting. Such internal control is a process designed by, or under the supervision of our CEO and CFO, and effected by our board of directors, management and other employees.
 The internal control over financial reporting is designed to provide reasonable assurances regarding the reliability of financial reporting and of the preparation of our consolidated financial statements