Analysis of status of Venezuelan Oil Industry
Detailed analysis of the status of the Venezuelan Oil Industry (In Spanish) (big document) prepared by the Union of Oil workers Unapetrol and the Civil Assiciation "People of Oil" (Gente del Petroleo). Key facts:
-Production still below 1.5 million barrels a day. -It would take at least 6 to 8 weeks to supply internal gasoline market. -Only one refinery working at 60% capacity. -No natural gas to start petrochemical industry. -Security, health and enviromental accidents up a factor of 50 over pre-December levels. -12,500 people fired. (71% of Executives, 51% of professionals and technicians) -Country's cash flow to turn negative in May. -If fired workers return in February, country's cash flow up by US$ 4.5 billion for the year.