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Stock impact report

Brazil Seeks to Boost Gas Supply With Petrobras [BNN Bloomberg (Canada)]

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: BNN Bloomberg
Petroleo Brasileiro SA, as the state-run company is formally known, must speed up studies that will help it curb the amount of gas injected back into oil reservoirs to boost crude production, Silveira said in an interview. That will free up more gas for sale. Petrobras - and other oil majors - should also invest in new gas pipelines to increase domestic supplies, he said. After weeks of publicly clashing with Petrobras's Chief Executive Officer, Jean Paul Prates, Silveira acknowledged “some progress” by the company's management. As an example, he cited Rota 3, a long-delayed offshore gas pipeline scheduled to start operations in the second half of this year. Read More: Petrobras Shareholders OK Dividend After Weeks of Drama Brazil is increasingly exposed to supply risks as gas production in Bolivia declines. But the government estimates that Brazil will be able to increase natural gas supplies by up to 150 million cubic meters per day through projects including Equinor's Raia a Show less Read more
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