Venezuela will soon reach its OPEC production quota
Vienna, March 8, IRNA -- Venezuelan Energy and Mines Minister Rafael Ramirez has said here that by the end of this month his country expected to reach its crude oil production quota of 2.819 million b/d, assigned by OPEC.
The OPEC News Agency (OPECNA) reported here today, he was quoted as saying that Venezuela once again would occupy, "its role on the world market as a stabilizing country and secure oil supplier, news that has been received by our clients as excellent and encouraging".
The minister noted that during the last OPEC meeting towards the end of 2002, Venezuela defended its quota, explained the true situation of "a terrorist sabotage to which it was subjected", and guaranteed that it would return "with all its production volume, which we are about to recover".
Ramirez said: "We are sure that we are going to recover nationalproduction during the first half of this month to its normal level of about three million b/d, which will allow us to re-establish the production quota set by the Organization.
"Therefore, we will participate in the ordinary conference scheduled for the middle of this month in Vienna, where we will take up again our commitment and confidence with our international clients who have increased in recent days," noted the minister.
"We are recovering our oil production in a sustained fashion. Currently it is above 2.5 million b/d, and within hours will be at 2.8 million b/d, which means that we will not only be at the required level for the internal market, where gasoline
production is at 60 per cent, but additionally will allow us to
strengthen exports," he added.
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