Economic Impacts

The oil and gas (O&G) sector is capital intensive, that is, it requires large financial investments. We review our investment portfolio annually as part of the process of preparing the business plan for the five-year period. In the 2026-2030 Business Plan, we disclosed that we plan to invest USD 109 billion over the next five years, with USD 91 billion in projects in the implementation portfolio and USD 18 billion in the portfolio under assessment, composed of opportunities with a lower degree of maturity. These resources will be applied to orders for goods and services to modernize and expand our production capacity. We also highlight the essential role of our products as inputs for economic growth. Our activity generates positive impacts in the communities where we operate through the creation of jobs, income and taxes. 

We have internally developed a methodology called input-output to calculate the generation and sustainability of direct and indirect jobs related to investments in exploration and production. Investments create direct jobs in the implementation of projects and indirect jobs in the manufacture of equipment and components and the provision of services for the entire supply chain involved. 

On May 15, 2023, our Executive Board approved the commercial strategy for setting gasoline and diesel prices. This strategy is aligned with the Guideline for the Pricing of Petroleum Products and Natural Gas in the Domestic Market (available for consultation on our Investor Relations website). The premise is to offer competitive prices by region, balancing the national and international markets. This strategy allows us to compete efficiently, considering our market share and optimizing our refining assets, always preserving the company’s financial sustainability.  

Pricing uses as a reference: (a) the customer’s alternative cost, that is, the price of the main options available in the market, which must be prioritized in pricing, and (b) the marginal value for Petrobras, based on the opportunity costs of the company’s various alternatives, such as production, import and export of the product or oils used in refining. 

In 2025, we distributed BRL 385.7 billion in value added. Through our activities, we distributed resources to our employees, federal, state and municipal governments (via taxes, royalties and special participation), financial institutions, suppliers and shareholders 

In 2025, we paid BRL 277.6 billion in taxes and government participations (PGOV) in Brazil and USD 448.65 million abroad. The quarterly collection is shown in the graph below. These resources increase the financial availability for federated entities, at all levels, to fund public administration and the provision of services to society, in addition to expanding the investment capacity in infrastructure and projects aligned with the development policies of the countries in which we operate. 

In the last five years, we have paid more than BRL 1.3 trillion in taxes and government participation to the Federal Government, states and municipalities. These resources strengthen government budgets for public policies that benefit society, as shown in the graph below. 

In 2025, we paid BRL 68.6 billion in government participation, as shown in the graph below. This amount is mostly composed of royalties (BRL 39.7 billion) and special participation (BRL 21.5 billion). There were also payments for the retention or occupation of areas (BRL 0.2 billion) and signing bonuses (BRL 7.1 billion). 

To foster our activities that contribute to the country’s development, we receive tax benefits, mainly at the federal level, highlighted in the Table below. Some benefits have a determined term and specific conditions established by legislation, such as REPETRO-SPED. Failure to comply with these conditions may give rise to the demand for taxes with legal additions. In 2025, we used approximately BRL 8.9 billion in federal tax incentives, resulting from the reduction of taxes in accordance with specific legislation. 

Our tax policy has as its fundamental principle the assurance that the management of taxes and government participations is in compliance with the legislation in force in Brazil and in the countries where we operate. We act with ethics, integrity, transparency, efficiency and social responsibility, contributing to social and economic development. We comply with tax regulations based on the technical interpretation of laws, aligned with the purpose of the business and the management of tax risks. We follow the guidelines of our tax policy, and we are committed to not maintaining equity interests in jurisdictions with favorable taxation, as defined by Brazilian legislation. 

We maintain a good relationship with government bodies and other stakeholders, always with ethics and transparency. We take sustainable tax positions, based on technical analyses and best market practices. 

We were chosen as representatives of the oil and gas sector in the cooperative tax compliance program “Confia” of the Federal Revenue Service. The program seeks to improve the relationship between the Tax Authority and the taxpayer, offering greater legal certainty and reducing litigation. 

We are certified in the Authorized Economic Operator program by the Federal Revenue Service, and we have received several awards for transparency and the technical quality of our financial statements. Our representativeness in tax collection exposes us to constant inspection at all levels of government, specialized audits for large taxpayers.

We disclose the results and taxes paid by jurisdiction, related to our equity interests abroad, as shown in the table below. 

Our businesses generate jobs and income not only directly, but also through the indirect impact on the production chain. The purchase of goods and services generates income for suppliers, who in turn contract inputs, suppliers and labor, promoting a multiplier effect on the economy. In 2025, the profile of contracting of goods and services presented greater diversification among exploration, development and subsea infrastructure activities 

Our supply chain is complex, with thousands of suppliers and a permanent need for materials for various operations. We have the challenge of avoiding shortages of materials at the units and controlling excessive stocks, seeking efficiency and sustainability. 

In order to strengthen the supplier chain and improve contract performance, we offer two programs for the oil and gas industry: Progredir and Mais Valor. 

In addition to the direct and indirect impacts on the generation of jobs and income, we make investments in infrastructure and services that benefit communities near our operations.