PANAMA CITY, PANAMA / HOUSTON, TEXAS (Editors at Energy Analytics Institute, 6.Jun.2025, Words: 585) â In 1914, Venezuela’s first important heavy oil field, Mene Grande, was discovered. Initial production from the shallow sands located at 550ft averaged 264 barrels per day (b/d) per well of oil with API gravity down […]
Tag: Orinoco Heavy Oil Belt
NRGBriefs: May Day Celebrations, No Expropriations Expected
(Energy Analytics Institute, 1.May.2022) â Energy briefs including Trinidad and Tobagoâs Prime Minister Keith Rowley and Minister of Energy and Energy Industries Stuart Young visiting Washington, DC to discuss regional energy matters; May Day (1 May) celebrations taking place across the Latin America and the Caribbean (LAC) region but no […]
EAI brief analysis: Venezuelaâs Faja contains 1,360 billion barrels of OOIP
CARACAS, VENEZUELA (By Piero Stewart, Energy Analytics Institute, 22.Apr.2022, Words: 130) â Venezuela is home to the Hugo ChĂĄvez Orinoco Heavy Oil Belt, also known as the Faja, which contains original oil in place (OOIP) estimated at 1,360 billion barrels, making it the worldâs largest accumulation of heavy and extra-heavy […]
Venezuela Crude Stocks Drop As Exports Pick Up
(Reuters, 26.Jan.2021) â Venezuelan state oil company PDVSAâs inventories of its main export crude grade dipped this week to their lowest levels since late November, internal company documents seen by Reuters showed. Merey 16 stocks at the countryâs main oil terminal, the Jose port, fell to 4.85 million barrels as […]
Venezuela Producing 345,000 B/D: Oil Official Freites Says
(Energy Analytics Institute, 23.Sep.2020) â Crude oil production in Venezuela, home to arguably the worldâs largest oil reserves, has fallen to around 345,000 barrels per day (b/d), according to comments from oil union official Ivan R. Freites. Venezuelaâs production is down from around 3.3 million barrels per day (MMb/d) in […]
Venezuela Oil Output Sliding, Fields Shut Due To Fire
(Reuters, 4.May.2020) â Venezuelaâs oilfields produced 687,000 barrels of crude last Saturday, up from 653,000 barrels on Friday but below the 718,000 barrels per day (bpd) the country said it produced in March, according to documents seen by Reuters on Monday. The drop came as output in the countryâs Orinoco […]
PDVSA, Partners Produce 500,000 b/d Of Orinoco Crude
(S&P Global Platts, 17.Dec.2019) â Production levels by Venezuelan state-owned PDVSA and its international partners in the Orinoco Belt rose to 500,000 b/d, or 38.5% of its 1.3 million b/d maximum capacity, up from 435,000 b/d November 4, according to a technical report S&P Global Platts saw Tuesday. Highlights: — […]
Venezuelan Oil Output Sinks To 500,000 B/D
(Argus, 14.May.2019) â Venezuela’s crude production has dropped to around 500,000 b/d as sluggish export loadings and replete storage force state-owned PdV to shut in wells, four company officials tell Argus. The decline is most pronounced in the Orinoco heavy oil belt, where production has dwindled to less than 200,000 […]
Venezuela’s April Crude Exports Rise To 955,000 b/d After Blackouts
(S&P Global Platts, 24.Apr.2019) â Venezuela’s state-owned PDVSA is set to export 955,000 b/d of crude in April, up from 843,000 b/d in March, when several blackouts crippled export infrastructure, according to the company’s monthly export plan. Asian refiners are taking 786,000 b/d, or 82% of April’s shipments, up from […]
Venezuelaâs Oil Sector Glory Days [EAItv]
(Energy Analytics Institute, Piero Stewart, 1.May.2018) â A brief look at Venezuelaâs oil sector glory days. Will they return?