HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 2.Mar.2025, Words: 666) — 4 Venezuelan joint ventures (JVs) of US-based Chevron Corporation were producing an average 242,000 barrels per day (b/d) in late-Feb. 2025, according to state-owned Petróleos de Venezuela (PDVSA) documents seen by Energy Analytics Institute (EAI). Such production represents 27% of Venezuela’s average oil production of 892,000 b/d in Jan. 2025, according to secondary sources data published by the Organization of Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Report (MOMR).
Importantly, Venezuela’s oil production averaged 874,000 b/d in 2024 and 763,000 b/d in 2023, according to the MOMR, again using data from secondary sources.
