Venezuela asks foreign firms to cut output – crude oil – Brief Article – Statistical Data Included
State firm PDSVA has requested foreign companies that operate marginal fields to reduce oil production, to help the country meet quotas set by OPEC. This is the first time that the country has made such a request of its international investors. The companies affected by this directive are those operating the 18 marginal fields under contracts awarded in 1997. The firms will be asked to reduce output by 9.4% (30,000 bopd).
COPYRIGHT 2001 Gulf Publishing Co.
COPYRIGHT 2001 Gale Group