Venezuela Aims To Build An $80 A Barrel Floor On Oil Prices
September 22 2009 - 9:57AM
Dow Jones News
Venezuela aims to double its oil production to more than 6
million barrels a day by 2030, Oil Minister Rafael Ramirez said
Tuesday.
Speaking at a heavy crude oil conference, Ramirez said current
production in Venezuela stands at about 3 million barrels a day,
but that by 2015 the government aims for production to reach 4.7
million barrels a day. By 2030, production could reach 6 million
barrels a day, he added.
To reach these goals, Ramirez said state oil firm Petroleos de
Venezuela aims to "build a floor" on oil prices at $80 a
barrel.
The two-day conference that began Tuesday in Caracas is being
held by Petroleos de Venezuela SA, or PdVSA, along with French oil
firm Total SA (FP.FR).
-By Dan Molinski, Dow Jones Newswires; (58) 414 120 5738;
darcy.crowe@dowjones.com