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Petrobras (PETR4 BZ) should work on boosting gas supplies, says Brazil’s Silveira

The Brazilian oil giant Petrobras should step up efforts to boost natural gas supplies and lower prices to revive the country’s industry, the Mines and Energy Minister said. Alexandre Silveira.

Petroleo Brasileiro SA, as the state-owned company is formally known, must speed up studies that will help the country curb the amount of gas injected back into oil reservoirs to boost crude production, Silveira said in an interview. This releases more gas for sale. Petrobras – and other oil companies – should also invest in new gas pipelines to boost domestic supplies, he said.