While the U.S. considers lifting sanctions in Venezuela, the country's oil infrastructure is no longer in place to resume the 3.2 million barrels a day production the country had in the 1990s.
Dec 27 (Reuters) - Venezuela this year almost doubled its oil production from last year's decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos de Venezuela (PDVSA.UL), known as PDVSA, won help…
Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos de Venezuela PDVSA.UL, known as PDVSA, won help from small drilling firms by rolling over old debts .
By Marianna Parraga
(Reuters) - Venezuela this year almost doubled its oil production from last year s decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades.
The surprising reversal began as state-run Petroleos de Venezuela, kn.