Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 100

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 100
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 the divestment of the assets, in addition to Petrobras’ 2024-2028+ Strategic Plan, which had among its objectives to act in a competitive and safe manner, maximizing capturing value by adapting and improving the refining park and developing new products aimed at a low carbon market. Therefore, the terms of the TCC were reviewed to adapt it to the new market reality and regulatory environment.
 The amendment was signed on July 3, 2024, and results from extensive debates between the technical areas of both Petrobras and CADE culminated in the cessation of the obligation to sell RNEST, REPAR, REFAP, REGAP and LUBNOR, within the scope of the TCC, and established new commitments, summarized as follows:
 
–                                                      new                                                    
            behavioral obligations to provide CADE with mechanisms for monitoring, within a controlled        
              environment, data related to Petrobras’ commercial activities in the oil products and           
    petroleum (crude oil) market, in the domestic territory, thus allowing it to verify the non-discriminatory
                                      nature of prices charged by Petrobras;                                  
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–                                              obligation                                           
    of disclosure, by Petrobras, of general, non-discriminatory commercial guidelines for deliveries
              of oil, by sea, to any independent refinery in the Brazilian territory; and           
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–                                             the                                           
    offering of Frame Contracts to any independent refinery, in the Brazilian territory, for
                                       deliveries by sea.                                   
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 The new obligations also foresee the conclusion of investigations initiated after the signing of the TCC.
 The obligations agreed in the Addendum to TCC Refino are valid for three years and can be extended for the same period, at CADE’s sole discretion.

Annual Report and Form 20-F 2024 |

As a result, the Executive Board of Petrobras removed REPAR, RNEST, REGAP, REFAP and LUBNOR from the divestment portfolio.
 
Gas market agreement
 The TCC for the Gas Market (the “TCC Gas”) provided, among other commitments, the mandatory divestment of its entire equity stake in the companies Nova Transportadora do Sudeste S/A (NTS), Transportadora Associada de Gás S.A. - TAG, Transportadora Brasileira Gasoduto Bolivia-Brasil S.A - TBG, as well as its indirect equity stake in Petrobras Gás S.A. - GASPETRO.