Venezuelan oil production rose in March according to a number of observers, despite a sweeping investigation of the country’s oil industry that has led to dozens of arrests.
By Argus Media – Carlos Camacho
Apr 04, 2023
Caracas-based consultant Gas Energy reports March production totaled about 770,000 b/d, based on its analysis of data from state-run PdV. That is up from the 719,600 b/d Gas Energy reported for February. Argus estimated February production at 690,000 b/d.
Production in the Orinoco heavy oil belt in March was 450,000 b/d, according to Gas Energy, up from the 410,000 b/d estimate the company made for February. The two other main production divisions for PdV, Occidente and Oriente, each produced about 160,000 b/d in March, according to the consultants, with Occidente up by about 10,000 b/d from February and Oriente down slightly.
The Venezuelan Oil Chamber, a collection of companies involved in the country’s oil and gas business, put total March production in Venezuela at 785,000 b/d.
The higher output from the Orinoco came as the former executive director for the region, Jackeline Perico, was arrested as part of a corruption investigation. So far 44 individuals, including civil servants from PdV, as well as businessmen and elected officials aligned with the current administration, have been arrested.
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Read More: Argus Media – Venezuela March oil production rises: Sources
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