Free Trial

Venezuelan Crude Production Steady as Chevron Returns


Venezuelan crude production averaged 712,000 b/d in December according to Gas Energy, down slightly from November.

  • The Orinoco oil belt produced 447,000 b/d of extra heavy crude, while the nearby Oriente division produced 170,000 b/d of medium to heavy crude.
  • Occidente, including the Zulia fields, produced 95,000 b/d on average, reaching as high as 110,000 b/d on some days as Chevron's Petroboscan project came back on line.
  • Chevron resuming operations in the country is lifting optimism about production increases from Venezuela but that is being tempered by ongoing infrastructure concerns including power and storage issues at key fields.

To read the full story



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.