soyabeangroundnutsunflower palm oil refinery plant in venezuela

                                               
                                               
                                               
                                               
                                               
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  • How much oil does Venezuela produce in 2023?
  • Despite the sizeable reserves, Venezuela produced 0.8% of total global crude oil in 2023. Most of Venezuela's proven oil reserves are extra-heavy crude oil from the Orinoco Belt.
  • Does Venezuela rely on US refinery technology?
  • The effort by state oil firm Petroleos de Venezuela (PDVSA) and the state-owned National Iranian Oil Refining and Distribution Company (NIORDC) to boost fuel output at the Paraguana Refining Center marks a step toward ending Venezuela's reliance on U.S. refinery technology, the sources said.
  • How much oil does Venezuela refine a day?
  • A paid subscription is required for full access. In 2021, Venezuela had a crude oil refining capacity of approximately 2.3 million barrels per day. Amuay was the largest refinery unit in the South American country, with a capacity of 645 thousand barrels per day. It was followed by Cardón, with a capacity of 310 thousand daily barrels.
  • Will Chevron be able to produce crude oil in Venezuela?
  • Much of Venezuela's crude oil production capacity and infrastructure have suffered from a decade-long lack of capital and regular maintenance. Chevron's earlier exemption increased its production to 135,000 barrels per day (b/d) in 2023, and we expect Chevron's output in Venezuela to reach 200,000 b/d by the end of 2024.
  • Where does Venezuela's oil come from?
  • Most of Venezuela's proven oil reserves are extra-heavy crude oil from the Orinoco Belt. The extraction of extra-heavy crude oil requires a higher level of technical expertise, which international oil companies possess but their involvement has been limited by international sanctions.
  • Does Venezuela have oil-for-loans?
  • Since the 2019 sanctions, a significant portion of Venezuela¡¯s crude oil exports have been part of oil-for-loans arrangements, which are debt repayments rather than PDVSA receiving actual payments for crude oil deliveries.