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Free AccessChevron Drops Year-End Target to 175kbd
Chevron is lowering its estimated year-end oil production target in Venezuela from 200,000 b/d to 175,000 b/d – citing infrastructure issues according to Argus sources.
- The size of tankers able to enter the Lake Maracaibo channel remains a major concern and impacts export volumes as well as storage issues.
- Chevron is currently producing around 120,000 b/d from its four Venezuelan projects.
- Venezuela claims the country as a whole is producing more than 800,000 b/d and plans to reach 1mn b/d come August. Argus estimates Venezuela's April production at around 750,000 b/d.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.