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Finance debt (Tables)
6 Months Ended
Jun. 30, 2023
Finance Debt  
Summary of balance by type of finance debt
   
In Brazil 06.30.2023 12.31.2022
Banking market 1,304 1,285
Capital market 3,198 2,896
Development banks (1) 735 723
Others 3 4
Total 5,240 4,908
Abroad    
Banking market 7,471 8,387
Capital market 14,165 14,061
Export credit agency 2,190 2,443
Others 162 155
Total 23,988 25,046
Total finance debt 29,228 29,954
Current 4,129 3,576
Non-current 25,099 26,378

 

 

(1) It includes BNDES, FINAME and FINEP

Schedule of current finance debt
   
  06.30.2023 12.31.2022
Short-term debt 9
Current portion of long-term debt 3,626 3,111
Accrued interest on short and long-term debt 494 465
Total 4,129 3,576
Schedule of changes in finance debt
     
  In Brazil Abroad Total
Balance at December 31, 2022 4,907 25,047 29,954
Proceeds from finance debt 12 50 62
Repayment of principal (1) (208) (1,237) (1,445)
Repayment of interest (1) (144) (846) (990)
Accrued interest (2) 212 877 1,089
Foreign exchange/ inflation indexation charges 82 (173) (91)
Translation adjustment 398 268 666
Modification of contractual cash flows (17) (17)
Balance at June 30, 2023 5,242 23,986 29,228

 

 

  In Brazil Abroad Total
Balance at December 31, 2021 4,517 31,183 35,700
Proceeds from finance debt - 330 330
Repayment of principal (1) (177) (5,186) (5,363)
Repayment of interest (1) (125) (790) (915)
Accrued interest (2) 201 953 1,154
Foreign exchange/ inflation indexation charges 109 (532) (423)
Translation adjustment 293 275 568
Balance at June 30, 2022 4,818 26,233 31,051

 

(1) It includes pre-payments.
(2) It includes premium and discount over notional amounts, as well as gains and losses by modifications in contractual cash flows.

 

Schedule of cash flows reconciliation
           
      Jan-Jun/2023     Jan-Jun/2022
  Proceeds from finance debt Repayment of principal Repayment of interest Proceeds from finance debt Repayment of principal Repayment of interest
Changes in finance debt 62 (1,445) (990) 330 (5,363) (915)
Repurchase of debt securities     (110)
Deposits linked to finance debt (1)   (37) (14)   (4) (1)
Net cash used in financing activities 62 (1,482) (1,004) 330 (5,477) (916)

 

 

(1) Deposits linked to finance debt with China Development Bank, with semiannual settlements in June and December.
Schedule of summarized information on current and non-current finance debt
               
Maturity in 2023 2024 2025 2026 2027 2028 onwards Total (1) Fair Value
                 
Financing in U.S.Dollars (US$): 1,714 3,237 2,568 1,528 2,463 10,021 21,531 21,582
Floating rate debt (2) 1,514 2,678 1,933 1,143 1,740 652 9,660  
Fixed rate debt 200 559 635 385 723 9,369 11,871  
Average interest rate p.a. 6.6% 6.8% 6.1% 6.3% 5.9% 6.6% 6.6%  
Financing in Brazilian Reais (R$): 284 536 238 482 135 3,566 5,241 5,402
Floating rate debt (3) 90 43 146 146 42 1,984 2,451  
Fixed rate debt 194 493 92 336 93 1,582 2,790  
Average interest rate p.a. 6.2% 7.1% 6.9% 6.7% 7.0% 6.8% 6.8%  
Financing in Euro (€): 29 296 599 924 901
Fixed rate debt 29 296 599 924  
Average interest rate p.a. 4.7% 4.7% 4.7% 4.7%  
Financing in Pound Sterling (£): 35 16 587 894 1,532 1,387
Fixed rate debt 35 16 587 894 1,532  
Average interest rate p.a. 6.2% 6.3% 6.2% 6.5% 6.3%  
Total as of June 30, 2023 2,033 3,818 3,102 2,597 2,598 15,080 29,228 29,272
Average interest rate 6.5% 6.7% 6.2% 6.3% 6.1% 6.6% 6.6%  
Total as of December 31, 2022 3,576 3,943 3,079 2,523 2,892 13,941 29,954 29,853
Average interest rate 6.7% 6.5% 6.1% 6.2% 6.0% 6.6% 6.5%  

 

 

(1) The average maturity of outstanding debt as of June 30, 2023 is 12.12 years (12.07 years as of December 31, 2022).
(2) Operations with variable index + fixed spread.
(3) Operations with variable index + fixed spread, if applicable.
Schedule of finance debt (undiscounted), including face value and interest payments
               
Maturity 2023 2024 2025 2026 2027 2028 and thereafter 06.30.2023 12.31.2022
Principal 1,525 3,831 3,199 2,675 2,670 15,921 29,821 31,703
Interest 974 1,861 1,556 1,381 1,152 17,469 24,392 24,815
Total 2,499 5,692 4,755 4,056 3,822 33,390 54,213 56,518
Schedule of lines of credit
           
            06.30.2023
Company

Financial

institution

Date Maturity

Available

(Lines of Credit)

Used Balance
Abroad            
PGT BV Syndicate of banks 12/16/2021 11/16/2026 5,000 5,000
PGT BV (1) Syndicate of banks 3/27/2019 2/27/2026 2,050 2,050
Total       7,050 7,050
             
In Brazil            
Petrobras Banco do Brasil 3/23/2018 9/26/2026 415 415
Petrobras Banco do Brasil 10/4/2018 9/5/2025 415 415
Transpetro Caixa Econômica Federal 11/23/2010 Not defined 68 68
Total       898 898

 

 

(1) On June 30, 2023, Petrobras reduced part of the Revolving Credit Facility to US$ 2,050 compared to the US$ 3,250 contracted in 2019. Thus, US$ 2,050 will be available for withdrawal from July 1st, 2023, to February 27, 2026.