Chevron could recover around 100,000 barrels a day in six months

After receiving authorization from the United States to extract oil in Venezuela, Chevron could recover some 100,000 barrels per day in six months

Chevron could be able to recover about 100,000 barrels a day in six months, according to Antero Alvarado, managing partner of Gas Energy Latin America in Venezuela.

After Chevron received limited authorization to resume oil extraction in Venezuela, hopes of a slight recovery in the sector have been revived.

Antero explained in an interview to the media that Chevron could operate through what is known as “deferred production”, in a first stage, “which will allow the recovery in about 6 months, between 50,000 and 100,000 barrels.”

The specialist added that Chevron will also apply “additional production”, where what corresponds to the Venezuelan PDVSA will continue to be sold. “The fact that Chevron returns ensures standards. In the end, nobody is going to make a long-term investment for 6 months, and it seems that more incentives are coming as there is more progress,” he said.

It is important to note that despite the partial authorization given to Chevron to reactivate crude oil extraction in Venezuela, a measure considered correct by spokespersons for the United States, there is still a long way to go in this sector to find a permanent and beneficial solution for those involved.

M.Pino

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Source: finanzasdigital

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