Reported 1 day ago
Venezuela's state-run oil company, PDVSA, is preparing to maintain its production and export of oil from the Petropiar joint venture with Chevron after the expiration of Chevron's operating license next month. Despite U.S. sanctions and the impending end of Chevron's operations in Venezuela, PDVSA aims to produce between 105,000 and 138,000 barrels per day of heavy crude, redirecting some crude to domestic refineries and seeking alternatives for necessary diluents. The strategic move is to ensure output levels are sustained and prevent the shutdown of operations.
Source: YAHOO