NRGBriefs: Venezuela’s Short-term Ability to Boost Production

(Energy Analytics Institute, 11.Mar.2022) — Energy briefs including Venezuela’s ability to boost production over the short-term by around 200,000 b/d; and an oil spill occurring offshore eastern Venezuela near Barcelona.

LATIN AMERICA AND THE CARIBBEAN

Venezuela

— Venezuela has capacity over the short-term to possibly boost production around 200,000 b/d over current levels, Rice University’s Francisco Monaldi said 11 Mar. 2022 during a webinar hosted by The Atlantic Council. The Venezuelan oil sector expert reiterated that between $12bn-$15bn in investment was needed over a 5-yr period just to boost production another 2 MMb/d. Venezuela was producing around 791,800 b/d on 16 Jan. 2022, according to reports seen by Energy Analytics Institute.

RELATED STORY: NRGBriefs: Venezuela Still Has Most Potential in LatAm to Boost Production

— An oil spill was reported offshore the coast of Lechería near Barcelona, according to reports in the newspaper Tu Periodico. Energy Analytics Institute has yet to concern the reports.

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By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.