Venezuela’s oil production rises in February, according to OPEC

Caracas, Mar 16 (Prensa Latina) Venezuela has increased its crude oil production by four percent in February, according to a report by the Organization of Petroleum Exporting Countries (OPEC), reviewed by local media on Wednesday.

March 16, 2022
08:01

According to the document released by the OPEC, Venezuela produced an average of 788,000 barrels per day in the second month of 2022, accounting for an increase of 33,000 barrels per day compared to January’s report.

In recent statements, Oil Minister Tareck El Aissami affirmed that the Venezuelan hydrocarbons industry is prepared to increase its production and raise it to two million barrels per day, despite the impact of the coercive measures imposed by the United States.

El Aissami specified that the state-owned oil company Petroleos de Venezuela (PDVSA) relied on the wisdom of its workers and the national scientific development to innovate valves and other parts that the firm could not purchase in the international market due to those restrictions.

This, he stressed, responds to the instructions given by President Nicolas Maduro regarding the major goals of the Venezuelan economy for 2022, focusing on a rise in the production of oil and its by-products, petrochemicals and gas.

pgh/iff/rgh/wup