Venezuela oil output flat at 1.2 mln bpd--strikers

www.forbes.com Reuters, 02.04.03, 9:11 AM ET

CARACAS, Venezuela, Feb 4 (Reuters) - Venezuela's oil output held steady Tuesday at just over one third of volumes produced before the two-month oil strike by foes of President Hugo Chavez, striking oil workers said. "Production continues at 1.2 million (barrels per day)," a representative of striking workers told Reuters by telephone. Venezuela had been producing 3.1 million bpd before the strike, which started on Dec 2 and is aimed at forcing Chavez from office. Strike leaders last week scaled back the stoppage in non-oil sectors. Many workers had already returned to their jobs as support for the shutdown frayed. But oil workers have decided to continue their strike to press for an early election. Efforts by the government to break the strike using replacement workers have increased oil production from its lowest point of 150,000 bpd during the stoppage. However, opposition and government officials offer conflicting accounts of how much output has recovered so far. The president of state oil firm Petroleos de Venezuela (PDVSA) Ali Rodriguez said Monday that crude output had been increased to 1.8 million bpd. Rodriguez said foreign-financed extra-heavy oil joint-ventures in the Orinoco tar belt would begin producing synthetic crude again this week and will add another 300,000 to 350,000 bpd of output.