& Tobago


Very usefull links


News links




Dow Jones

Oil price



Views and News





PDVSA production fell 32% in June to 422,400 barrels a day, deepening crisis


- Venezuelan crude output falls for sixth month
- Maduro criticized EU Council sanctions on 11 officials

By Fabiola Zerpa/Bloomberg

Petroleumworld 07 01 2020

Crude production in Venezuela tumbled for a sixth straight month in June, underscoring the dismal state of the nation's oil industry as U.S. sanctions batter exports and the coronavirus pummels demand.

State-owned Petroleos de Venezuela SA reported a 32% decline in June output -- a reduction of almost 200,000 barrels a day compared with the previous month -- according to company and oil ministry documents seen by Bloomberg. As of June 28, production stood at 422,400 barrels a day.

Venezuela, home to the world's largest crude reserves, has struggled to rehabilitate its embattled oil industry as the Trump administration ratchets up sanctions in a bid to oust President Nicolas Maduro. At least 50 tankers known for lifting Venezuelan crude or delivering gasoline to the country have been sanctioned by the U.S., cutting off oil exports critical to bankrolling Maduro's regime.

Foreign buyers have canceled cargoes, storage tanks have filled to capacity and PDSVA has been forced to shut wells. In May, the country had a single oil rig drilling for crude, and shipments plunged to levels not seen in 73 years .

In the period from June 1-15, the steepest production drop came from the Orinoco oil belt, where output fell by almost 50% to 148,000 barrels a day, the documents show. Production from the Maracaibo basin fell by about 40% to 83,600 barrels a day. Overall crude output hit a 74-year low on June 10, with 374,000 barrels a day supply.

Story by Fabiola Zerpa from Bloomberg News.
07 30 2020



Editor & Publisher:Elio Ohep /
Contact Email:

CopyRight © 1999-2020, Elio Ohep A. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2020, Petroleumworld   / Elio Ohep - All rights reserved


This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.