Economic impacts

The oil and gas (O&G) sector is characterized by being capita intensive. The review of the investment portfolio occurs annually as part of the strategic plan development process for the five-year period. In Petrobras’ investment portfolio, disclosed in the Business Plan 2025-2029, it is noted that the company plans to invest US$111 billion over the next five years. This volume of resources will translate into orders for goods and services that will meet the company’s needs for modernization and increased production capacity. This ensures our future by fulfilling production and efficiency targets. The resources will trigger a whole multiplier process of income and employment, especially in the Brazilian economy, where a large part of the investments will be made.

Petrobras internally develops, based on an input-output methodology, the calculation of the generation and support of direct and indirect jobs associated with its investments in exploration and production. The investments create direct jobs during the implementation of projects, but also indirect jobs in the manufacturing of equipment, its components, and in the provision of services throughout the supply chain behind our activities.

In 2024, we had an added value distribution of approximately BRL 379.4 billion, as shown in Figure 1.4. Through our activities, we distribute value to our employees, federal, state, and municipal governments through the payment of taxes, royalties, and special participations, financial institutions, the supply chain, and our shareholders:

In 2024, Petrobras collected a total of BRL 270.3 billion in the form of taxes and government participation (PGOV) in Brazil and US$ 206 million abroad. The quarterly collection information can be seen in Graph 1.2. The collection of taxes and PGOV increases the availability of financial resources to federal entities, at

all levels of government, necessary to fund public administration and the provision of services to society, as well as to enhance the capacity for investment in infrastructure and projects based on the development policies of the countries where Petrobras operates.

In the last five years, Petrobras has collected over BRL 1.1 trillion in taxes and government participation for the federal, state and municipal governments, providing a larger government budget for the implementation of public policies that serve society, as can be seen in Graph 1.3. Additionally, for the amounts due from government participations, we have the legal obligation to collect on behalf of the national treasury bureau, with the distribution of these amounts to the beneficiaries being the responsibility of the ANP. Such disbursements related to PGOV are financial compensations for our exploration and production activities of oil and natural gas in Brazilian territory, aimed at providing monetary compensation to society for the exploitation of non-renewable resources. These include: royalties, special participation, signature bonuses, and payments for the retention or occupation of contracted areas.

In 2024, a total of BRL 62 billion was collected in government participations, as described in Graph 1.4. This collection is primarily composed of royalties (BRL 38 billion) and special participation (BRL 23.6 billion). In addition to these two recurring items, there was also a payment for the retention or occupation of an area, amounting to BRL 0.2 billion, and a disbursement of BRL 0.1 billion in signature bonuses resulting from the acquisition of blocks in the Pelotas basin.

We also state the results and taxes paid by jurisdiction, regarding any Petrobras equity interests abroad, as shown in table 1.5.

Our business generates employment and income not only due to the direct impacts of our activities but also because of our indirect impact on the production chain. The purchase of goods and services by the company results in income for its suppliers, who, in their production processes, will hire new inputs, suppliers, and labor in a chain process that stimulates the economy.

For the supply of goods and services, we have a complex chain with thousands of suppliers and a constant need for the availability of materials for our several operations. At the same time, we face the challenge of avoiding material shortages in the units while also preventing expenses related to any excessive or untimely inventories.
 

In order to support the supply chain and promote the improvement of contract performance, we provide two incentive programs for the oil and gas industry: Progredir and Mais Valor, as shown in Figure 1.6.

In addition to our direct and indirect impacts on job and income generation, we also make investments in infrastructure and services that have more significant impacts on the communities located within the scope of our operations. 

We develop several socio-environmental projects and sponsorships aimed at addressing the demands of the communities in the territories where we operate and achieving positive socio-environmental transformations, as presented in the chapter on local and traditional communities.