CARACAS, Tuesday March 18, 2008 | Update
In a year when domestic crude oil output continued to decrease
and fuel demand in the domestic market climbed, Venezuelan
oil exports were seriously hit, dropping 192,000 bpd (6.4
percent) to 2.78 million bpd in 2007.
The figures were disclosed by state oil conglomerate Pdvsa in its 2007 Report submitted to the National Assembly. The document shows that Pdvsa's direct oil exports took a 5.9 percent dive, falling 142,000 bpd. Oil exports by the joint ventures operating in the Orinoco oil belt decreased by 8.5 percent of 50,000 bpd.
Most of the decline in Pdvsa's exports took place in crude oil shipments, which fell 64,000 bpd to 1.67 million bpd. Further, shipments of byproducts dropped 54,000 bpd (10 percent). The Energy Information Administration -the statistical arm f the US Energy Department- also highlighted this fall.
Average domestic oil production was 3.14 million bpd, which represents a decline of 3.1 percent or 103,000 bpd compared to 2006. Production shrunk as Pdvsa's own production fell 83,000 bpd (including the joint ventures that replaced the operational agreements) and a decrease of 20,000 bpd in the Orinoco belt production.
10:07 AM. DIPLOMACY. Admired by the Colombian guerrilla after his coup attempt in 1992, the then lieutenant colonel Hugo Chávez Frías received financial support by the Colombian Revolutionary Armed Forces (FARC) for his projects after his capture that year. This mostly explains the relationship and "debt" between the parties, as revealed by a paper of the International Institute for Strategic Studies (IISS) of the United Kingdom.