Petrobras Petroleo Brasileiro Sa (PBR) SEC Filing 20-F Annual Report for the fiscal year ending Friday, December 31, 2021

Cover

Consolidated Statements Of Cash Flows

Consolidated Statements Of Changes In Shareholders Equity

Consolidated Statements Of Comprehensive Income

Consolidated Statements Of Financial Position

Consolidated Statements Of Income

A Maturity Schedule Of The Company???S Finance Debt (Undiscounted), Including Face Value And Interest Payments Is Set Out As Follows: (Details)

A Sensitivity Analysis Of The Derivative Financial Instruments For The Different Types Of Market Risks As Of December 31, 2021 Is Set Out As Follows: (Details)

A Sensitivity Analysis On Cdi Through A Parallel Shock Keeping All Other Variables Remaining Constant, Would Result In The Impacts Shown In The Following Table: (Details)

As Of December 31, 2021, Estimated Contingent Liabilities For Which The Possibility Of Loss Is Not Considered Remote Are Set Out In The Following Table (Details)

As Of December 31, 2021, The Company Holds Interests In 85 Partnerships With 37 Companies, Among Which Petrobras Is The Operator In 55 (In 2020, 98 Partnerships With 40 Companies And Operator In 55). There Were No New Partnerships Signed In 2021. The Part (Details)

Assets By Operating Segment

Assets By Operating Segment (Tables)

Balance By Type Of Finance Debt (Details)

Basis Of Preparation

Basis Of Preparation (Tables)

Capital Management

Capital Management (Details Narrative)

Cash And Cash Equivalents (Details)

Cash And Cash Equivalents And Marketable Securities

Cash And Cash Equivalents And Marketable Securities (Policies)

Cash And Cash Equivalents And Marketable Securities (Tables)

Changes In Discounted Net Future Cash Flows: (Details)

Changes In Finance Debt And Reconciliation With Cash Flows From Financing Activities (Details)

Changes In The Actuarial Liabilities Recognized In The Statement Of Financial Position (Details)

Changes In The Balances Of Capitalized Costs Directly Associated With Exploratory Wells Pending Determination Of Proved Reserves And The Balance Of Amounts Paid For Obtaining Rights And Concessions For Exploration Of Oil And Natural Gas (Capitalized Acqui (Details)

Changes In The Fair Value Of Plan Assets (Details)

Changes In The Present Value Of The Obligation (Details)

Changes In The Provision Are Presented Below: (Details)

Collateral For Crude Oil Exploration Concession Agreements

Collateral For Crude Oil Exploration Concession Agreements (Details Narrative)

Commitment To Purchase Natural Gas

Commitment To Purchase Natural Gas (Details Narrative)

Consolidated Statement Of Income By Operating Segment (Details)

Costs And Expenses By Nature

Costs And Expenses By Nature (Tables)

Costs Incurred Are Summarized Below And Include Both Amounts Expensed And Capitalized: (Details)

Credit Quality Of Cash And Cash Equivalents, As Well As Marketable Securities (Details)

Critical Accounting Policies: Key Estimates And Judgments

Critical Accounting Policies: Key Estimates And Judgments (Details Narrative)

Critical Accounting Policies: Key Estimates And Judgments (Policies)

Disclosure Of Dividends (Details)

Disposal Of Assets And Other Changes In Organizational Structure

Disposal Of Assets And Other Changes In Organizational Structure (Details Narrative)

Disposal Of Assets And Other Changes In Organizational Structure (Policies)

Disposal Of Assets And Other Changes In Organizational Structure (Tables)

Earnings (Losses) Per Share (Details)

Employee Benefits

Employee Benefits (Details Narrative)

Employee Benefits (Policies)

Employee Benefits (Tables)

Equity

Equity (Details Narrative)

Equity (Policies)

Equity (Tables)

Exploration And Evaluation Of Oil And Gas Reserves

Exploration And Evaluation Of Oil And Gas Reserves (Details Narrative)

Exploration And Evaluation Of Oil And Gas Reserves (Policies)

Exploration And Evaluation Of Oil And Gas Reserves (Tables)

Exploration Costs Recognized In The Statement Of Income And Cash Used In Oil And Gas Exploration And Evaluation Activities Are Set Out In The Following Table: (Details)

Fair Value Measured Of Assets And Liabilities (Details)

Fair Value Of Financial Assets And Liabilities

Fair Value Of Financial Assets And Liabilities (Tables)

Finance Debt

Finance Debt (Details Narrative)

Finance Debt (Policies)

Finance Debt (Tables)

Impairment

Impairment (Details Narrative)

Impairment (Policies)

Impairment (Tables)

Intangible Assets

Intangible Assets (Details Narrative)

Intangible Assets (Policies)

Intangible Assets (Tables)

Inventories

Inventories (Details Narrative)

Inventories (Policies)

Inventories (Tables)

Investments

Investments (Details Narrative)

Investments (Policies)

Investments (Tables)

Judicial Deposits Made In Connection With Legal Proceedings Are Set Out In The Table Below According To The Nature Of The Corresponding Lawsuits (Details)

Lease Liabilities

Lease Liabilities (Details Narrative)

Lease Liabilities (Policies)

Lease Liabilities (Tables)

Lines Of Credit (Details)

Marketable Securities (Details)

Net Expenses Relating To Benefit Plans (Details)

Net Finance Income (Expense)

Net Finance Income (Expense) (Tables)

Net Income By Operating Segment

Net Income By Operating Segment (Policies)

Net Income By Operating Segment (Tables)

New Standards And Interpretations

New Standards And Interpretations (Tables)

Oil And Gas, Income Taxes Are Based On Statutory Tax Rates, Reflecting Allowable Deductions. Interest Income And Expense Are Excluded From The Results Reported In This Table. (Details)

Other Assets And Liabilities

Other Assets And Liabilities (Policies)

Other Assets And Liabilities (Tables)

Other Income And Expenses

Other Income And Expenses (Tables)

Partnerships In E&Amp;P Activities

Partnerships In E&Amp;P Activities (Policies)

Partnerships In E&Amp;P Activities (Tables)

Post-Tax Discount Rates, Excluding Inflation, Applied In The Tests Were: (Details)

Property, Plant And Equipment

Property, Plant And Equipment (Details Narrative)

Property, Plant And Equipment (Policies)

Property, Plant And Equipment (Tables)

Provision For Decommissioning Costs

Provision For Decommissioning Costs (Policies)

Provision For Decommissioning Costs (Tables)

Provisions For Legal Proceedings

Provisions For Legal Proceedings (Details Narrative)

Provisions For Legal Proceedings (Policies)

Provisions For Legal Proceedings (Tables)

Provisions For Legal Proceedings Are Set Out As Follows: (Details)

Related-Party Transactions

Related-Party Transactions (Details Narrative)

Related-Party Transactions (Tables)

Reserve Estimates Are Subject To Variations Due To Technical Uncertainties In The Reservoir And Changes In Economic Scenarios. A Summary Of The Annual Changes In The Proved Reserves Of Oil Is As Follows (In Millions Of Barrels): (Details)

Risk Management

Risk Management (Policies)

Risk Management (Tables)

Sales Revenues

Sales Revenues (Details Narrative)

Sales Revenues (Policies)

Sales Revenues (Tables)

Schedue Of Other Assets And Liabilities (Details)

Schedule Of Aging Of Trade And Other Receivables (Details)

Schedule Of Amounts Recognized And Guarantees Given Related To Derivative Financial Instrument (Details)

Schedule Of Benefits Include Salaries, Post-Employment Benefits, Termination Benefits (Details)

Schedule Of Cash Flow Projections Used To Measure The Value In Use Of Cgus (Details)

Schedule Of Changes In Credit Losses Provision (Details)

Schedule Of Class Of Assets (Details)

Schedule Of Closed Transactions (Details)

Schedule Of Company Recognized Right-Of-Use Assets (Details)

Schedule Of Cost Of Sales (Details)

Schedule Of Cumulative Foreign Exchange Losses Recognized (Details)

Schedule Of Current Finance Debt (Details)

Schedule Of Employee Benefits (Details)

Schedule Of Estimated Useful Life Of Property Plant And Equipment (Details)

Schedule Of General And Administrative Expenses (Details)

Schedule Of Guarantees Given As Collateral (Details)

Schedule Of Hedging Instrument Notional Value (Details)

Schedule Of Impairment Losses Reversals (Details)

Schedule Of Impairment Losses, Net Of Reversals, Recognized Within Statement Of Income (Details)

Schedule Of Impairment Losses, Net Of Reversals, Recognized Within Statement Of Income1 (Details)

Schedule Of Interest Rate Risk Management (Details)

Schedule Of Inventories (Details)

Schedule Of Net Finance Income (Expense) (Details)

Schedule Of New International Financial Reporting Standards Not Yet Adopted (Details)

Schedule Of Other Income And Expenses (Details)

Schedule Of Pension Plan Assets (Details)

Schedule Of Property Plant And Equipment By Class Of Assets (Details)

Schedule Of Reclassification Of Cumulative Foreign Exchange Losses Recognized (Details)

Schedule Of Recognized The Statement Of Income (Details)

Schedule Of Selling Expenses (Details)

Schedule Of Sensitivity Analysis For Foreign Exchange Risk On Financial Instruments (Details)

Schedule Of Statement Of Financial Position (Details)

Schedule Of Supplemental Information On Statement Of Cash Flows

Schedule Of Supplemental Information On Statement Of Cash Flows (Details)

Schedule Of Supplemental Information On Statement Of Cash Flows (Tables)

Schedule Of Surplus Volume (Details)

Schedule Of The Remaining Balance For Compensating Of Taxes (Details)

Schedule Of Trade And Other Receivables, Net (Details)

Schedule Of Transactions Pending (Details)

Significant Accounting Policies

Standardized Measure Of Discounted Future Net Cash Flows: (Details)

Subsequent Events

Subsequent Events (Details Narrative)

Summarized Information On Current And Non-Current Finance Debt (Details)

Summarized Information On Joint Ventures And Associates (Details)

Summary Of Actuarial Assumptions (Details)

Summary Of Aging Of The Unrecognized Tax Carryforwards (Details)

Summary Of Balances Of Significant Transactions (Details)

Summary Of Cash Flows From Sales Of Interest With Loss Of Control (Details)

Summary Of Changes In Lease Liabilities (Details)

Summary Of Changes In The Discount Rate (Details)

Summary Of Compensation Of Employees (Including Those Occupying Managerial Positions) And Officers (Details)

Summary Of Composition Of Deferred Tax Assets And Liabilities (Details)

Summary Of Condensed Financial Information (Details)

Summary Of Effect Of Change In Foreign Exchange Rate (Details)

Summary Of Employee Benefits (Details)

Summary Of Estimated Schedule Of Recovery/Reversal Of Net Deferred Tax Assets (Liabilities) Recoverable (Payable) (Details)

Summary Of Income Taxes (Details)

Summary Of Information On Direct Subsidiaries, Joint Arrangements And Associates (Details)

Summary Of Investments In Associates And Joint Ventures (Details)

Summary Of Investments In Listed Companies (Details)

Summary Of Main Information By Class Of Underlying Assets (Details)

Summary Of Maturity Schedule Of The Lease Arrangements (Details)

Summary Of Other Taxes (Details)

Summary Of Outstanding Amount Of Settlement Year (Details)

Summary Of Pension Plan Assets By Type Of Asset (Details)

Summary Of Reconciliation Between Statutory Tax Rate And Effective Tax Expense Rate (Details)

Summary Of Reconciliation Of Judicial Deposits With Legal Proceedings (Details)

Summary Of Reconciliation Of Provisions For Legal Proceedings (Details)

Summary Of Remaining Performance Obligations (Details)

Summary Of Sales Revenues (Details)

Summary Of The Changes In The Deferred Income Taxes (Details)

Summary Of Total Compensation Of Executive Officers And Board Members Of Petrobras Parent Company (Details)

Supplementary Information On Oil And Gas Exploration And Production (Unaudited)

Supplementary Information On Oil And Gas Exploration And Production (Unaudited) (Tables)

Taxes

Taxes (Details Narrative)

Taxes (Policies)

Taxes (Tables)

The ???Lava Jato (Car Wash) Operation??? And Its Effects On The Company

The ???Lava Jato (Car Wash) Operation??? And Its Effects On The Company (Details Narrative)

The Company And Its Operations

The Estimate Below Reflects Only The Expected Future Cash Flows To Meet The Defined Benefit Obligation Recognized At The End Of The Reporting Period. (Details)

The Following Table Details The Amount Of The Decommissioning Provision By Production Area: (Details)

The Following Table Presents Significant Impairment Reversals For 2021: (Details)

The Following Table Presents The Production Referring To Petrobras's Participation In The Main Fields In Which The Company Is The Operator In The Partnership: (Details)

The Following Table Provides The Period During Which The Defined Benefit Obligation Associated With These Plans Are Expected To Continue To Affect The Company's Financial Statements (Details)

The Following Table Summarizes Capitalized Costs For Oil And Gas Exploration And Production Activities With The Related Accumulated Depreciation, Depletion And Amortization, And Asset Retirement Obligations: (Details)

The Following Tables Set Out The Amounts Of Exploratory Well Costs That Have Been Capitalized For A Period Of One Year Or More After The Completion Of Drilling, The Number Of Projects Whose Costs Have Been Capitalized For A Period Greater Than One Year, A (Details)

The Major Classes Of Assets And Related Liabilities Classified As Held For Sale Are Shown In The Following Table: (Details)

The Segmented Information Reflects The Decision-Making Process For Resource Allocation And Performance Evaluation Carried Out By The Company???S Board Of Executive Officers (As Chief Operating Decision Makers) (Details)

The Table Below Presents Changes In The Reimbursements Payable Relating To These Fields (Details)

The Table Below Provides Other Characteristics Of These Plans: (Details)

The Tables Below Detail The Main Causes Of Tax, Civil, Environmental And Labor Nature, Whose Expectations Of Losses Are Classified As Possible (Details)

The Tables Below Present The Volumes Of Proved Developed And Undeveloped Reserves, Net, That Is, Reflecting Petrobras' Participation: (Details)

Trade And Other Receivables

Trade And Other Receivables (Details Narrative)

Trade And Other Receivables (Policies)

Trade And Other Receivables (Tables)

Trade Payables

Trade Payables (Details)

Trade Payables (Tables)