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Related-party transactions | 6 Months Ended
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Jun. 30, 2022
Related-party Transactions |
Related-party transactions |
| 28. | Related-party transactions
| 28.1. | Transactions with joint ventures, associates, government entities and pension plans
The Company has engaged, and expects to continue to engage, in the ordinary course of business in numerous transactions with joint ventures, associates, pension plans, as well as with the Company’s controlling shareholder, the Brazilian Federal Government, which include transactions with banks and other entities under its control, such as financing and banking, asset management and other transactions. The balances of significant transactions are set out in the following table: Summary of Balances of Significant Transactions
|  | 06.30.2022 |  | 12.31.2021
| Assets | Liabilities | Assets | Liabilities
Joint ventures and associates |  |  |  |
State-controlled gas distributors (joint ventures) | 205 | 51 | 255 | 42
Petrochemical companies (associates) | 2 | 10 | 26 | 12
Other associates and joint ventures | 96 | 1 | 104 | 13
Subtotal | 303 | 62 | 385 | 67
Brazilian government – Parent and its controlled entities |  |  |  |
Government bonds | 1,767 | - | 1,446 | -
Banks controlled by the Brazilian Government | 9,825 | 1,611 | 8,417 | 1,267
Petroleum and alcohol account - receivables from the Brazilian Government | 582 | - | 506 | -
Brazilian Federal Government - dividends payable | − | 1,327 | − | −
Others | 52 | 54 | 28 | 54
Subtotal | 12,226 | 2,992 | 10,397 | 1,321
Pension plans | 57 | 32 | 51 | 61
Total | 12,586 | 3,086 | 10,833 | 1,449
Current | 2,678 | 2,039 | 2,110 | 315
Non-Current | 9,908 | 1,047 | 8,723 | 1,134
Total | 12,586 | 3,086 | 10,833 | 1,449
The income/expenses of significant transactions are set out in the following table:
| 2022 | 2021 | 2022 | 2021
| Jan-Jun | Jan-Jun | Apr-Jun | Apr-Jun
Joint ventures and associates |  |  |  |
BR Distribuidora (now called Vibra Energia) | − | 7,608 | − | 4,298
Natural Gas Transportation Companies | − | (304) | − | (59)
State-controlled gas distributors (joint ventures) | 1,196 | 1,034 | 622 | 585
Petrochemical companies (associates) | 2,457 | 1,590 | 1,332 | 822
Other associates and joint ventures | 89 | 119 | 60 | 77
Subtotal | 3,742 | 10,047 | 2,014 | 5,723
Brazilian government – Parent and its controlled entities |  |  |  |
Government bonds | 93 | 20 | 51 | 13
Banks controlled by the Brazilian Government | (30) | (93) | (51) | (30)
Receivables from the Electricity sector | − | 112 | − | 97
Petroleum and alcohol account - receivables from the Brazilian Government | 46 | 22 | 27 | 11
Brazilian Federal Government - dividends | (77) | (4) | (77) | (4)
Empresa Brasileira de Administração de Petróleo e Gás Natural – Pré-Sal Petróleo S.A. – PPSA | (171) | (67) | (132) | (36)
Others | (5) | (33) | (16) | (43)
Subtotal | (144) | (43) | (198) | 8
Total | 3,598 | 10,004 | 1,816 | 5,731
Revenues, mainly sales revenues | 3,800 | 10,604 | 2,019 | 5,870
Purchases and services | 5 | (486) | 1 | (106)
Income (expenses) | (245) | (147) | (156) | (104)
Foreign exchange and inflation indexation charges, net | (31) | (45) | (43) | (5)
Finance income (expenses), net | 69 | 78 | (5) | 76
Total | 3,598 | 10,004 | 1,816 | 5,731
The liability related to pension plans of the Company's employees and managed by the Petros Foundation, including debt instruments, is presented in note 12.
| 28.2. | Compensation of key management personnel
The criteria for compensation of members of the Board of Directors and the Board Executive Officers is based on the guidelines established by the Secretariat of Management and Governance of the State-owned Companies (SEST) of the Ministry of Economy, and by the MME. The total compensation is set out as follows: Summary of Total Compensation of Executive Officers and Board Members of Petrobras Parent Company
|  | Jan-Jun/2022 |  | Jan-Jun/2021
| Executive Officers | Board of Directors | Total | Executive Officers | Board of Directors | Total
Wages and short-term benefits | 1.3 | − | 1.3 | 1.3 | − | 1.3
Social security and other employee-related taxes | 0.4 | − | 0.4 | 0.3 | − | 0.3
Post-employment benefits (pension plan) | 0.2 | − | 0.2 | 0.1 | − | 0.1
Benefits due to termination of tenure | 0.1 | - | 0.1 | 0.2 | - | 0.2
Total compensation recognized in the statement of income | 2.0 | − | 2.0 | 1.9 | − | 1.9
Total compensation paid (*) | 4.1 | − | 4.1 | 3.9 | − | 3.9
Average number of members in the period (**) | 9.00 | 11.00 | 20.00 | 9.00 | 10.33 | 19.33
Average number of paid members in the period (***) | 9.00 | 2.83 | 11.83 | 9.00 | 5.00 | 14.00
(*) | The variable compensation (PPP) paid to management is included in the Executive Officers columns.
(**) | Monthly average number of members.
(***) | Monthly average number of paid members.
In the six-month period ended June 30, 2022, expenses related to compensation of the board members and executive officers of Petrobras amounted to US$ 5.8 (US$ 6.2 for the same period of 2021). On April 13, 2022, the Company’s Annual Shareholders’ Meeting set the threshold for the overall compensation for executive officers and board members at US$ 8 (R$ 39.5 million) from April 2021 to March 2022. The compensation of the Advisory Committees to the Board of Directors is separate from the fixed compensation set for the Board Members and, therefore, has not been classified under compensation of Petrobras’ key management personnel. In accordance with Brazilian regulations applicable to companies controlled by the Brazilian Federal Government, Board members who are also members of the Statutory Audit Committees are only compensated with respect to their Audit Committee duties. The total compensation concerning these members was US$ 340 thousand for the six-month period ended June 30, 2022 (US$ 408 thousand with tax and social security costs). For the same period of 2021, the total compensation concerning these members was US$ 245 thousand (US$ 290 thousand with tax and social security costs).

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