Venezuelan Oil Ministry, PDVSA Plan to Boost Output

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PDVSA’s Manuel Quevedo speaking in Caracas. Source: PDVSA

(Energy Analytics Institute, Piero Stewart, 17.Jun.2018) – Venezuela’s Oil Ministry and PDVSA reiterated joint plans to boost crude oil output by 1 million barrels per day.

To this end, officials from the OPEC nation’s oil ministry and state oil company meet in Caracas to discuss to jointly review heavy oil recovery plans among others aimed at boosting national oil production, reported PDVSA in an official statement.

“PDVSA divisions in Ayacucho, Boyacá, Carabobo and Junín, as well as with the regional office of the Hugo Chávez Frías Orinoco Heavy Oil Belt aim to develop strategies to increase the oil crude production over 1 million barrels at the national level,” reported PDVSA, citing company president Manuel Quevedo.
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