Venezuelan oil production came in at 2.25 million barrels a day in April, edging lower from the previous month, the International Energy Agency said Thursday in its monthly report.
Venezuelan oil production came in at 2.25 million barrels a day in
April, edging lower from the previous month, the International Energy Agency
said Thursday in its monthly report.
The agency had estimated March production at 2.26 million barrels a day. In its
report last month, the IEA warned that April production would be lower due to
ongoing problems with
Venezuela
's
electrical grid and rolling blackouts which had affected operations at heavy
oil upgraders.
South America
's largest oil producer continues to face power
shortages with a failure in power transmission lines earlier this week which
resulted in blackouts across 10 states. Since then officials have announced
rationing measures across several states. During the latest set of electricity
problems this week, state oil monopoly Petroleos de Venezuela said operations
at their facilities had not been interrupted thanks to backup power supply.
The IEA, which is often at odds with Venezuelan officials over the country's
actual output levels, estimates production capacity of 2.35 million barrels a
day. Venezuelan Oil Minister Rafael Ramirez has frequently said the country is
producing close to 3 million barrels a day. In recent months, the government
has been putting pressure on its oil partners, which have minority stakes in
various projects, to boost investment and output at a time when
Venezuela
's
overall production is on the decline.
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