XML 230 R88.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Impairment (Tables)
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
Schedule of statement of financial position
     
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

 

     
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
     
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
         
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
           
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
   
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
       
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
       
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".