巴西石油 2026年年度报告和过渡报告

Securities registered or to be registered pursuant to Section 12(g) of the Act: NoneSecurities for which there is a reporting obligation pursuant to Section 15(d) of the Act: NoneThe number of outstanding shares of each class of stock as of December 31, 2025 was:7,442,231,382 Petrobras Common Shares, without par value5,446,501,379 Petrobras Preferred Shares, without par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No☐ If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrantwas required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (orfor such shorter period that the registrant was required to submit such files). Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Emerging growth company☐ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act(15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). DisclaimerGlossaryAbout UsAbout usOverview2025 HighlightsRisksRisksCybersecurity Framework and Risk ManagementOur BusinessExploration & ProductionRefining, Transportation & MarketingGas & Low Carbon EnergiesMergers and AcquisitionsExternal Business EnvironmentBusiness PlanBusiness Plan 2026-30 (BP 2026-30)Research, Development and InnovationEnvironment Social and GovernanceEnvironmentSocial ResponsibilityCorporate Governance Operating and Financial Review and ProspectsConsolidated Financial PerformanceFinancial Performance by Business SegmentLiquidity and Capital ResourcesManagement and EmployeesManagementEmployeesCompliance and Internal ControlsComplianceRelated Party TransactionsControls and ProceduresOmbudsman and Internal InvestigationsShareholder InformationListingShares and ShareholdersShareholders’ RightsShareholder RemunerationAdditional Information for Non-Brazilian ShareholdersLegal and TaxRegulationLegal ProceedingsTaxAdditionalInformationList of ExhibitsSignaturesAbbreviationsConversion tableCross-Reference to Form 20-F Disclaimer We have presented the information in this annual report and Form 20-F in a manner consistent with how we view our business. In order to facilitate your review, thisannual report and Form 20-F for the year ended December 31, 2025 (referred to herein as our “annual report”) has a cross-reference guide to SEC Form 20-Funder “Cross-Reference to Form 20-F”. Unless the context otherwise indicates, please consider this report the annual report of Petróleo Brasileiro S.A. – Petrobras. Unless the context otherwise requires, the terms “Petrobras,” “theCompany,” “our company,” “we,” “us” and “our” refer to Petróleo Brasileiro S.A. – Petrobras and its consolidated subsidiaries, joint operations and structured entities. Our audited consolidated financial statements, present