Petrobras — Form 6-K: resultados do 4T14 e do exercício de 2014 (em reais), com nota sobre a Operação Lava Jato

The 4Q14 statement records a write-off of R$2.825 billion of the capitalized costs of the Premium I and II refineries in fiscal year 2014 and mentions R$2.707 billion in 3Q14.

Source: Petrobras — Form 6-K: resultados do 4T14 e do exercício de 2014 (em reais), com nota sobre a Operação Lava Jato — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 22, 2015 · consolidated results sections for 4Q14 and the fiscal year · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Two numbers in the same document (R$2.825 billion for the year; R$2.707 billion cited in the 3Q14 comparison); the text does not explain the difference. Do not record as a sum.

Petrobras wrote off R$6.194 billion of capitalized costs that represent amounts overpaid in the acquisition of fixed assets in previous years, because of the payment scheme revealed by Lava Jato; the write-off was recognized in 3Q14 (US$2.527 billion per the 20-F).

Source: Petrobras — Form 6-K: resultados do 4T14 e do exercício de 2014 (em reais), com nota sobre a Operação Lava Jato — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 22, 2015 · Note on the Lava Jato Operation; 2014 consolidated income statement; 2014 20-F, Item 5 (Write-Offs of Overpayments Incorrectly Capitalized) · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: The company's methodological estimate, not a definitive total of the corruption; the company says it cannot identify specific contracts or periods.

The 2014 net loss attributable to shareholders was R$21.587 billion, which Petrobras attributes to impairment losses of R$44.636 billion (domestic refineries R$30.976 billion; E&P R$10.002 billion due to lower international oil prices; petrochemicals R$2.978 billion) and to the write-off of R$6.194 billion.

Source: Petrobras — Form 6-K: resultados do 4T14 e do exercício de 2014 (em reais), com nota sobre a Operação Lava Jato — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 22, 2015 · first page of the statement (summary); 'Key events' · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Amounts of different natures and with overlap; the statement's summary indicates R$44.636 billion in losses and the events section, R$44.345 billion before taxes (different amounts in the same document). Do not add.

Petrobras stated that the difference between the fair value and the book value of its assets was significantly greater than any reasonable estimate of improper payments and that this difference does not originate primarily from improper payments, but from other sources, such as the measurement method and changes in the business context (exchange rate, discount rate, prices, and margins).

Excerpt: “Fair value shortfalls originate not primarily from improper payments”

Source: Petrobras — Form 6-K: resultados do 4T14 e do exercício de 2014 (em reais), com nota sobre a Operação Lava Jato — Petróleo Brasileiro S.A. — Petrobras (SEC), Apr. 22, 2015 · Note on the Lava Jato Operation – Background · open original ↗

Financial statement (primary) · full text examined · accessed on Oct. 24, 2026

Limitations: Company statement when justifying why it did not use fair value as a proxy for the write-off.