Oil exec: Production rising

www.charlotte.com Posted on Tue, Feb. 18, 2003

BOGOTA, Colombia - The state-owned oil company in Venezuela, though hobbled by a faltering 78-day strike by oil workers, could be producing 2.8 million barrels per day within a month, Venezuela's quota as set by the Organization of the Petroleum Exporting Countries, the president of the company said Monday.

Reaching 2.8 million barrels per day would be a milestone for the state-owned company, Petroleos de Venezuela, once the world's second-largest oil company and a major supplier of petroleum to the United States.

The company used to produce 3.1 million barrels a day until an antigovernment strike paralyzed production, devastating Venezuela's economy and severely testing the leftist government of President Hugo Chavez.

The announcement by Ali Rodriguez, president of the company, was made in Caracas, the Venezuelan capital. It was quickly rebutted by dissident oil executives who on Dec. 2 led a walkout of thousands of workers that is continuing.

The walkout was part of a nationwide general action, but the strike in the other sectors fizzled out earlier this month.