EL UNIVERSAL
CARACAS, Tuesday November 03, 2009 | Update
Venezuela to expand oil production capacity to 4.25 million by 2015
Energy
Venezuela's oil capacity should reach 4.25 million barrels per day (bpd) by 2015 from the current production of 3 million bpd, said on Tuesday Venezuelan Minister of Energy and Petroleum Rafael Ramírez in an oil conference which is being attended by top oil company executives, including the CEO's of Chevron Corp. and Statoil ASA.
"At the moment, we have an annual production of 3 million barrels per day. And we have an investment plan to create sufficient capacity to produce 4.25 million barrels per day by 2015," Ramírez added.
The oil minister said that Venezuela's production capacity should rise to 6.862 million barrels a day by 2021, Reuters reported.
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Business chamber rejects gov't steps against private property
03:11 PM. Economy. The Venezuelan Federation of Trade and Industry Chambers (Fedecámaras) described as an illegal act the seizure of several ranches by officials of the National Land Institute (INTI) and National Guard troops.
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