Through a statement, the Venezuelan state oil company PDVSA announced the activation of the new generation well Petroindependencia, S.A., a subsidiary of the Corporación Venezolana del Petróleo, S.A. (CVP), jointly with the American Chevron.
The measure is part of the 2024 Drilling Campaign and,…
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oil production
Venezuelan oil production rose 4 % in February
The Organization of Petroleum Exporting Countries, OPEC, indicated that during the month of February of this year, Venezuela increased its production to 877,000 barrels per day.
The figure represents an increase of 4 % compared to the same…
OPEC registered a slight increase in October
In October, the thirteen member countries of OPEC increased their oil production to 27.9 million barrels per day, registering an increase of 0.3% compared to September, according to the organization's monthly report published today.
The…
Argentine Patagonia will be a cryptocurrency mining center
The company Tecpetrol is looking for a use for the gas derived from oil extraction in Argentine Patagonia. Cryptocurrency mining is an option.
This was announced by the company recently, stating that the project will be developed in the…
Arab countries from OPEC to cut voluntarily oil production
A voluntary cut in oil production was announced by Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Iraq and Oman. The measure will be applied from next May and until the end of the year.
This reduction is in addition to the one…
Chevron’s contribution to crude oil production in Venezuela is 87 thousand bpd
The expert on the oil issue Rafael Quiroz has indicated that the contribution of the Chevron company to oil production in Venezuela amounts to 87,000 barrels per day.
The economist pointed out on Tuesday that, despite this figure, the US…
OPEC assured that Venezuela’s oil production increased 9 %
Venezuela's oil production rose 9.4 %, rising from 669,000 barrels per day (bpd) to 732,000 bpd in January, according to the Organization of the Petroleum Exporting Countries (OPEC).
Estimates for 2022 were focused on Venezuela exceeding…
Russia announces reduction in oil production
This Friday the Russian Deputy Prime Minister, Alexander Novak, announced a reduction in oil production for the month of March.
After the Western countries imposed a top price on Russian oil, the nation made the decision to apply a…
OPEC: Venezuela’s oil production rose 94,000 barrels in August
The Organization of Petroleum Exporting Countries has indicated that during the month of August Venezuela experienced a 14 % increase in production, reaching 94,000 bpd.
According to the OPEC report, with the figures for Venezuela, in…
Oil market is in a “state of schizophrenia”
The Organization of Petroleum Exporting Countries (OPEC) warned that the crude oil market is operating under a "state of schizophrenia", so it is not sending the right signals to be balanced, according to its monthly report on the market.…
Fragility of the oil industry limits its recovery
Asdrúbal Oliveros, economist and director of Ecoanalítica, stressed that the Venezuelan oil industry is experiencing "an unprecedented fragility and vulnerability in the country" that limits the recovery of the oil sector, despite…
Venezuelan oil production increased 4 % in February
The Organization of Petroleum Exporting Countries (OPEC) reported in its monthly report that Venezuelan oil production increased by 4 % in February compared to January pumping, based on official figures.
The information highlights that the…