authorities of Venezuela and China evaluated, in a meeting in Caracas, opportunities for cooperation in the oil and gas sectors, said the Venezuelan state company PDVSA.
In oil cooperation between both nations”, in addition to evaluating “new opportunities for cooperation”.
For his part, Tellechea indicated that, at the meeting, they reviewed the “positive evolution of the energy cooperation bilateral”, without offering further details about this alliance.
The Caribbean nation, which has the largest proven crude oil reserves on the planet, is betting on greater growth in its oil production after USA will temporarily lift several of its sanctions, including those related to this sector, a relief that came into effect last October and is scheduled to expire next April.
After this flexibility, PDVSA It has signed agreements with the Spanish Repsol, the French Maurel & Prom, the Korsou Refinery (Rdk) of Curacao and the National Gas Company of Trinidad and Tobago, while it has been in talks with the Mexican Pemex.
Venezuela produced an average of 783,000 barrels per day (bpd) of oil in 2023, an increase of 9.3% compared to 2022, when it pumped an average of 716,000 bpd, according to official figures collected in a report from the Organization of the Petroleum Exporting Countries (OPEC) published on Wednesday.
Source: Gestion
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