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CARACAS Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo…
The St Kitts Nevis Observer
A flame burning natural gas is seen at an heavy-crude treatment plant operated by Venezuela s state oil company PDVSA, in the oil rich Orinoco belt, near Cabrutica at the state of Anzoategui April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo
Luc Cohen
Reuters
Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen by Reuters shows.
In the February 2021 document entitled “Investment Opportunities,” Petroleos de Venezuela’s (PDVSA.UL) planning and engineering division said it was seeking capital investment from Venezuelan and foreign partners, mostly to recover and upgrade oil production infrastructure “under new business models”.
Venezuela needs $58 billion to restore crude output to 1998 levels – document
Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen by Reuters shows.
In the February 2021 document entitled “Investment Opportunities,” Petroleos de Venezuela’s planning and engineering division said it was seeking capital investment from Venezuelan and foreign partners, mostly to recover and upgrade oil production infrastructure “under new business models”.
The main new partnership model PDVSA detailed in the document was the use of production services agreements (ASPs).