CARACAS, Friday April 09, 2010 | Update 1'
The current level of oil production, as well as the declining refining capacity in Venezuelan refineries, is adversely affecting crude oil exports particularly to the US market.
The report prepared by the Energy Information Administration (EIA), the statistics arm of the US Department of Energy, showed a year-to-year decline in Venezuelan oil exports to the United States amounting to 32.66 percent in January 2010.
José Luis Saboín, an analyst at private research firm Ecoanalítica, said that the figures show that "the production and refining processes have been affected."
He said that the government is aware of declining oil production and that it has come to "undesirable levels." This has led to an expansion of the plans to develop the Orinoco Oil Belt.
"The refining process has been affected since May 2009 to date due to maintenance shutdowns and problems in oil facilities."
Deisy Buitrago
Source: http://english.eluniversal.com/2010/04/09/en_eco_esp_low-output-and-refin_09A3718051.shtml
The current level of oil production, as well as the declining refining capacity in Venezuelan refineries, is adversely affecting crude oil exports particularly to the US market.
The report prepared by the Energy Information Administration (EIA), the statistics arm of the US Department of Energy, showed a year-to-year decline in Venezuelan oil exports to the United States amounting to 32.66 percent in January 2010.
José Luis Saboín, an analyst at private research firm Ecoanalítica, said that the figures show that "the production and refining processes have been affected."
He said that the government is aware of declining oil production and that it has come to "undesirable levels." This has led to an expansion of the plans to develop the Orinoco Oil Belt.
"The refining process has been affected since May 2009 to date due to maintenance shutdowns and problems in oil facilities."
Deisy Buitrago
Source: http://english.eluniversal.com/2010/04/09/en_eco_esp_low-output-and-refin_09A3718051.shtml
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