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Impairment (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes and other explanatory information [abstract] |
Schedule of statement of financial position |
Schedule of statement of income and |  |  |
Statement of income | 2023 | 2022 | 2021
Impairment (losses) reversals | (2,680) | (1,315) | 3,190
Exploratory assets | (364) | − | −
Impairment on equity-accounted investments | (2) | (6) | 383
Net effect within the statement of income | (3,046) | (1,321) | 3,573
Losses | (3,307) | (1,640) | (654)
Reversals | 261 | 319 | 4,227
Schedule of statement of financial position |  |  |
Statement of financial position | 2023 | 2022 | 2021
Property, plant and equipment | (2,783) | (1,163) | 3,414
Intangible assets | (364) | (1) | 1
Assets classified as held for sale | 103 | (151) | (225)
Investiments | (2) | (6) | 383
Net effect within the statement of financial position | (3,046) | (1,321) | 3,573
Schedule of statement of financial position |
Schedule of statement of financial position |  |  |
Statement of financial position | 2023 | 2022 | 2021
Property, plant and equipment | (2,783) | (1,163) | 3,414
Intangible assets | (364) | (1) | 1
Assets classified as held for sale | 103 | (151) | (225)
Investiments | (2) | (6) | 383
Net effect within the statement of financial position | (3,046) | (1,321) | 3,573
Schedule of impairment of property, plan and equipment and intangible assets |
Schedule of impairment of property, plan and equipment and intangible assets |  |  |  |  |
Asset or CGU by nature (1) | Carrying amount before impairment testing | Recoverable amount (2) | Impairment (losses) / reversals (3) | Business segment | Comments
|  |  |  |  | 2023
Producing properties relating to oil and gas activities in Brazil (several CGUs) | 8,332 | 6,108 | (2,217) | E&P | Item (a1)
Second refining unit in RNEST | 943 | 455 | (486) | RT&M | Item (b1)
Oil and gas exploratory assets (several CGUs) | 371 | − | (364) | E&P | Item (c)
Others |  |  | (80) | Several |
Total |  |  | (3,147) |  |
|  |  |  |  | 2022
Producing properties relating to oil and gas activities in Brazil (several CGUs) | 8,307 | 7,747 | (628) | E&P | Item (a2)
Oil and gas production and drilling equipment in Brazil (several CGUs) | 486 | 7 | (478) | E&P | Item (d1)
Itaboraí utilities | 919 | 777 | (142) | G&LCE | Item (d)
Second refining unit in RNEST | 792 | 882 | 89 | RT&M | Item (b2)
Others |  |  | (5) | Several |
Total |  |  | (1,164) |  |
|  |  |  |  | 2021
Producing properties relating to oil and gas activities in Brazil (several CGUs) | 23,734 | 36,396 | 3,373 | E&P | Item (a3)
Oil and gas production and drilling equipment in Brazil (several CGUs) | 250 | − | (250) | E&P | Item (d2)
Second refining unit in RNEST | 404 | 767 | 359 | RT&M | Item (b3)
Others |  |  | (67) | Several |
Total |  |  | 3,415 |  |
(1) It only refers to CGUs or assets which presented impairment losses or reversals in the period.
(2) The recoverable amounts of assets for impairment computation were their value in use, unless otherwise indicated.
(3) Impairment losses and reversals are calculated individually for each CGU. However, there are certain line items of this table which represent several CGUs. Thus, as impairment reversals are limited to pre-impairment carrying amounts less subsequent depreciation or amortization recognized, the "Impairment (losses) / reversals" of the line items representing several CGUs may not represent a direct relation between "Carrying amount" and "Recoverable Amount".
Schedule of average exchange rates |
Schedule of average exchange rates |  |  |  |  |  |
Strategic Plan 2024-2028 | 2024 | 2025 | 2026 | 2027 | 2028 | Long term Average
Average Brent (US$/barrel) | 80 | 78 | 75 | 73 | 70 | 65
Average Brazilian Real (excluding inflation) - Real /U.S. dollar exchange rate | 5.05 | 5.04 | 5.03 | 4.98 | 4.90 | 4.65
At December 31, 2022, average Brent prices and Brazilian real/U.S. dollar average exchange rates used were:
Strategic Plan 2023-2027 | 2023 | 2024 | 2025 | 2026 | 2027 | Long term Average
Average Brent (US$/barrel) | 85 | 80 | 75 | 70 | 65 | 55
Average Brazilian Real (excluding inflation) - Real /U.S. dollar exchange rate | 5.02 | 5.00 | 5.00 | 4.97 | 4.88 | 4.76
At December 31, 2021, average Brent prices and Brazilian real/U.S. dollar average exchange rates used were:
Strategic Plan 2022-2026 | 2022 | 2023 | 2024 | 2025 | 2026 | Long term Average
Average Brent (US$/barrel) | 72 | 65 | 60 | 55 | 55 | 55
Average Brazilian Real (excluding inflation) - Real /U.S. dollar exchange rate | 5.40 | 5.33 | 5.19 | 5.15 | 5.14 | 5.08
Schedule of impairment losses reversals |
Schedule of impairment losses reversals |  |
Activity | 12.31.2023 | 12.31.2022
Producing properties relating to oil and gas activities in Brazil | 7.6% p.a. | 7.3% p.a.
RT&M in Brazil – postponed projects | 7.0% p.a. | 7.1% p.a.
Schedule of changes in material assumptions |
Schedule of changes in material assumptions |  |  |  |
Potential impairment losses - 10% reduction in the recoverable amount | Business segment | Carrying amount | Recoverable amount | Sensitivity
Assets with impairment losses |  |  |  |
Producing properties relating to oil and gas activities in Brazil (CGU Roncador) | E&P | 5,863 | 5,277 | (586)
Second refining unit of RNEST | RT&M | 455 | 409 | (46)
Itaboraí utilities | G&LCE | 924 | 832 | (92)
|  | 7,242 | 6,518 | (724)
Potential impairment reversals - 10% increase in the recoverable amount | Business segment | Carrying amount | Recoverable amount | Sensitivity (1)
Assets with impairment losses |  |  |  |
Producing properties relating to oil and gas activities in Brazil (CGU Roncador) | E&P | 5,863 | 6,449 | 586
Second refining unit of RNEST | RT&M | 455 | 501 | 46
Itaboraí utilities | G&LCE | 924 | 1,016 | 92
|  | 7,242 | 7,966 | 724
(1) When calculating a 10% increase in the recoverable amount, the amount of impairment to be reversed is limited to the accumulated impairment of the CGU or to their recoverable amounts, whichever is lower.
Schedule of assets classified as held for sale |
Schedule of assets classified as held for sale |  |  |  |
Asset or CGU by nature (1) | Carrying amount before impairment testing | Recoverable amount (2) | Impairment (losses) / reversals (3) | Business segment
|  |  |  | 2023
Producing properties relating to oil and gas activities | 230 | 334 | 103 | E&P
Others |  |  | 1 | Several
Total |  |  | 104 |
|  |  |  | 2022
Producing properties relating to oil and gas activities | 376 | 300 | (116) | E&P
Refinery and associated logistics assets | 77 | 34 | (44) | RT&M
Others |  |  | 9 | Several
Total |  |  | (151) |
|  |  |  | 2021
Thermoelectric power plants | 91 | 12 | (79) | G&LCE
Investments in associates and joint ventures | 107 | 44 | (67) | G&LCE
Oil and gas production and drilling equipment | 47 | − | (46) | E&P
Refinery and associated logistics assets | 255 | 218 | (37) | RT&M
Others |  |  | 4 | Several
Total |  |  | (225) |
(1) It only refers to assets or groups of assets which presented impairment losses or reversals in the period.
(2) The recoverable amounts of assets for impairment computation were their fair value.
(3) Impairment losses and reversals are calculated individually for each CGU. However, certain line items of this table may represent several CGUs. Thus, as impairment reversals are limited to pre-impairment carrying amounts less subsequent depreciation or amortization recognized, the "Impairment (losses) / reversals" of each line item may not represent a direct relation between "Carrying amount" and "Recoverable Amount".

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