The CEO of Petrobras stated that the company will minimize the injection of natural gas as much as possible

Brazilian state-owned oil company Petrobras announced on Wednesday that it will make every effort to reduce the reinjection of natural gas into oil wells.

The Brazilian government issued a decree on Monday authorizing the oil regulatory agency ANP to order oil companies to reduce reinjection volumes in order to increase natural gas supply and lower prices.

Brazilian Minister of Mines and Energy Alexander Silva stated at the time that the regulation only applies to new oil wells.

At present, Brazil has a large natural gas production, which is a byproduct of oil production.

Natural gas is often re injected into oil fields to maintain pressure, extract more oil, and increase profitability.