Chávez: Oil production at Orinoco Belt amounts to one million bpd
The Venezuelan president said that projects are under way with China to generate electricity from coke
|
Venezuelan President Hugo Chávez on Friday said that production at the Orinoco Oil Belt exceeds one million barrels per day.
During the presentation of his 2011 Report and Accounts, Chávez said that such level has allowed authorities to develop, together with China, a number of electric power generation projects using coke as fuel.
Chávez added that thanks to the "rescue of the Orinoco Oil Belt," Venezuela has USD 300 billion dollars in oil reserves, which were certified last year as the world's largest oil reserves.
He stressed that some US surveys may take the figure up to more than 500 billion barrels.
Funds for 400 years
With current proven oil reserves, Chávez estimated that at an average of USD 100 per barrel of crude oil, the Orinoco Belt holds enough oil to finance the domestic budget for 400 years.
On the other hand, Chávez said that Venezuela's current international reserves in gold are close to USD 19 billion.
With reporting by Ender Marcano
Dossier
Mafias and politics in the surroundings
Lieutenant colonel Miguel Angel Urrieta was unlucky to have his phone number on Tatiana Orozco's cell phone; who was labeled as "The Queen of the Rebar." That fact and some text messages exchanged with Orozco were enough for public prosecutors to consider him a party to the shady deals with rebar which spread over a scandal from the steel plants of Sidor.
- Read
Cómo anunciar |
Suscripciones |
Contáctenos |
Política de privacidad
Términos legales |
Condiciones de uso |
Mapa del Sitio |
Ayuda
El Universal - Todos los derechos reservados 2012
