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Impairment (Tables)
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
Schedule of statement of income
     
Statement of income 2024 2023 2022
Impairment (losses) reversals (1,531) (2,680) (1,315)
Exploratory assets (224) (364) −
Impairment of equity-accounted investments 13 (2) (6)
Net effect within the statement of income (1,742) (3,046) (1,321)
Losses (1,955) (3,307) (1,640)
Reversals 213 261 319
Schedule of statement of financial position
     
Statement of financial position 2024 2023 2022
Property, plant and equipment (1) (1,487) (2,783) (1,163)
Intangible assets (1) (224) (364) (1)
Assets classified as held for sale (32) 103 (151)
Investments 1 (2) (6)
Net effect within the statement of financial position (1,742) (3,046) (1,321)
(1) See note 25.1.
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
          2024
Producing properties relating to oil and gas activities in Brazil (several CGUs) 7,998 7,000 (1,129) E&P Item (a1)
Second refining unit in RNEST 414 − (421) RT&M Item (b1)
Oil and gas exploratory assets (several CGUs) 200 − (224) E&P Item (c1)
Others     63 Several  
Total     (1,711)    
          2023
Producing properties relating to oil and gas activities in Brazil (several CGUs) 8,332 6,108 (2,217) E&P Item (a2)
Second refining unit in RNEST 943 455 (486) RT&M Item (b2)
Oil and gas exploratory assets (several CGUs) 371 − (364) E&P Item (c2)
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 (a3)
Oil and gas production and drilling equipment in Brazil (several CGUs) 486 7 (478) E&P Item (d)
Itaboraí utilities 919 777 (142) G&LCE Item (e)
Second refining unit in RNEST 792 882 89 RT&M Item (b3)
Others     (5) Several  
Total     (1,164)    
(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
           
Business Plan 2025-2029 2025 2026 2027 2028 2029 Long term Average
Average Brent (US$/barrel) 83 77 74 71 68 65
Average Brazilian Real (excluding inflation) - Real /U.S. dollar exchange rate 5.00 4.92 4.87 4.83 4.79 4.64

 

 

 

 

At December 31, 2023, average Brent prices and Brazilian real/U.S. dollar average exchange rates used were:

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
Schedule of impairment losses reversals
   
Activity 12.31.2024 12.31.2023
Producing properties relating to oil and gas activities in Brazil 7.6% p.a. 7.6% p.a.
RT&M in Brazil – postponed projects 7.7% p.a. 7.0% p.a.
Schedule of changes in material assumptions
       
Potential impairment losses - 10% reduction in the recoverable amount

Business

segment

Carrying

amount

Recoverable amount Sensitivity
Asset with recoverable amount close to its carrying amount        
CGU Marlim Sul E&P 4,825 4,760 (65)
Assets with impairment losses        
Producing properties relating to oil and gas activities in Brazil (9 CGUs) E&P 6,656 5,991 (665)
Itaboraí utilities G&LCE 900 810 (90)
Araucária Nitrogenados - ANSA RT&M 12 11 (1)
    12,393 11,572 (821)
         
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 (9 CGUs) E&P 6,656 7,322 666
Itaboraí utilities G&LCE 900 989 89
Araucária Nitrogenados - ANSA RT&M 12 13 1
    7,568 8,324 756
(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
        2024
Producing properties relating to oil and gas activities 44 – (44) E&P
Others     12 Several
Total     (32)  
        2023
Producing properties relating to oil and gas activities 230 334 102 E&P
Others     1 Several
Total     103  
        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)  
(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.