Venezuela plans to maintain oil production at 1 mb/d by the end of the year

Venezuela’s Minister of Oil, Pedro Tellechea, announced the nation’s goal to maintain oil production at over a million barrels per day (mb/d) by the conclusion of 2023.

Tellechea also mentioned that the US-based Chevron Corporation is already operational in Venezuela and its oil production is progressing as per their plan.

The minister further noted that Italian energy company Eni and Spain’s Repsol may commence exporting liquefied natural gas (LNG) from Venezuela to Europe in 2024, pending some final agreements.

He specified that the exports can currently include condensate, and all necessary licensing for gas exports is already in place.

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