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CARACAS, Tuesday November 03, 2009 | Update

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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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Bases of discord

04:17 PM. Western Hemisphere. "Damned empire; I curse you one thousand times; some day you will be finished off and wrecked. I curse you one thousand times, empire." This is the least that President Hugo Chávez has uttered to refer to the US government. In urging the Bolivarian Armed Forces to prepare for war, he said that a US raid on Venezuela through Colombia would trigger and spread over the region "the 100-year war."