PDVSA Rodriguez Araque says full Amuay refinery production expected soon

www.vheadline.com Posted: Friday, February 28, 2003 By: Robert Rudnicki

According to Petroleos de Venezuela (PDVSA) president Ali Rodriguez Araque, the Amuay refinery should be completely up and running midway through March. If this is possible, it will be a huge step in the battle to recover Venezuelan production which fell sharply as a result of the opposition work stoppage. The refinery has a capacity of around 960,000 barrels per day.

Rodriguez also said that the force majeure will be lifted as soon as production recovers to above 2.5 million barrels per day. He estimates that current output is two million barrels per day, while striking PDVSA executives claim the number is nearer to 1.6 million.

"Of course as we normalize production, and this will occur when we're above 2.5 million barrels per day, the force majeure will be suspended entirely."

The force majeure in the east of Venezuela has already been lifted, but problems restarting complex older wells in the west of the country have delayed production rises.