Venezuelan oil strikers say output at 1.06 mln bpd

www.forbes.com Reuters, 01.31.03, 8:11 AM ET

CARACAS, Venezuela (Reuters) - Striking Venezuelan oil workers said Friday oil output stood at just over 1 million barrels per day (bpd), while the government has estimated that it has managed to lift production to about 1.4 million bpd.

Two months into the opposition strike to oust leftist President Hugo Chavez, both sides have provided conflicting accounts of the impact of the stoppage on the world's fifth largest oil exporter.

Production is stalled at 1.064 million bpd, striking workers at state oil firm Petroleos de Venezuela (PDVSA) said in a daily report. Energy Minister Rafael Ramirez said Wednesday the government had managed to bring output up to 1.427 million bpd. Pre-strike levels were 3.1 million bpd.

Fighting back against the strike, Chavez has sacked several thousand workers from PDVSA and deployed troops to seize control of installations and refineries. The strikers have vowed to stay out until Chavez resigns, calls elections and reinstates fired oil executives and managers.