Output increase: Company vice president Luis Vierma says PDVSA will increase investments this year
Caracas pledges 8% output increase
Venezuelan state oil company PDVSA has said it hopes to increase crude production by nearly 8% this year to more than 3.4 million barrels per day.
Company vice president Luis Vierma says PDVSA will do so in part by raising investments this year.
Venezuela is producing about 3.2 million barrels per day, the Associated Press quoted Vierma as saying.
More conservative estimates from the Paris-based International Energy Agency put the country’s production at around 2.6 million barrels per day.
Vierma’s comments were published in the Venezuelan newspaper Panorama on Wednesday.