Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 29

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 29
---
, such as carbon capture and storage, offshore wind power plants and production of hydrogen from renewable sources, are still being defined. Therefore, the markets and projects for these initiatives, for now, are gradually evolving in Brazil. As a result, potential delays in establishing such frameworks could hinder us from achieving low-carbon and energy transition goals.
 7.b) We do not own any subsoil accumulations of crude oil and natural gas in Brazil. 
 Under Brazilian law, the Brazilian federal government is the owner of all the country’s mineral resources, including subsoil accumulations of crude oil and natural gas. According to Brazilian regulations, the concessionaire or contracted party owns the oil and gas it produces from these subsoil accumulations pursuant to the exploration and production contracts signed with the Brazilian federal government. We possess, as a concessionaire or contracted party of certain oil and natural gas fields in Brazil, the exclusive right to develop and produce the volumes of crude oil and natural gas included in our reserves pursuant to the respective exploration and production contracts, for a specific time frame. The access to crude oil and natural gas reserves is essential to an oil and gas company’s sustained production and generation of income, and our ability to generate income could be adversely affected if there are restrictions on the exploitation of these crude oil and natural gas reserves or on the exploration of exploratory blocks, due to changes in current legislation, environmental restrictions or implementation of exception measures.
 
8) Risks related to foreign countries where we are involved
 8.a) We have assets and investments in other countries, where the political, economic and social situation may negatively impact our business. 
 We have presence in other countries in South America and Africa, and may operate business in countries where there may be political, economic and social instabilities. In such regions, external factors may negatively affect the results and financial condition of our subsidiaries, including:
 
–       imposition   
    of price control;
---------------------

–                  imposition              
    of restrictions on hydrocarbon exports;
-------------------------------------------

–                fluctuation             
    of local currencies against the real;
-----------------------------------------

–                 nationalization              
    of our oil and gas reserves and our assets;
-----------------------------------------------

–            increases          
             in export          
    tax and income tax rates for
       oil and oil products;    
--------------------------------

–                                            unilateral                                        
    (governmental) and contractual institutional changes, including controls on investments and
                                  limitations on new projects; and                             
-----------------------------------------------------------------------------------------------

–   geopolitical
      crisis.   
----------------
 If one or more