December 26, 2021
1 min read

Venezuela’s oil output reaches 1 bn barrels per day

This figure was reached despite the dozens of sanctions the US government has imposed on the South American country, said El Aissami

State-owned oil company Petroleos de Venezuela (PDVSA) exceeded one million barrels of crude produced per day at the end of 2021, double what it recorded a year ago, the country’s Oil Minister Tareck El Aissami announced.

This figure was reached despite the dozens of sanctions the US government has imposed on the South American country, El Aissami said in a Christmas message on Saturday.

“Despite the threats of the criminal blockade of the US, here is a people standing with dignity and in the vanguard: the oil working class,” Xinhua news agency quoted the Minister as saying.

At the end of 2020, the Venezuelan state oil company reported a production level of 500,000 barrels per day, but production rose to 876,100 barrels per day at the end of November of this year.

The Venezuelan government reported that from 2014 to 2019, the country experienced a 99 per cent drop in its foreign exchange earnings.

President Nicolas Maduro said in September 2020 that “of every $100 or euros that the country obtained from the sale of oil in 2014, today it obtains less than one”.

The country has started a phase of economic recovery through the diversification of production and the rehabilitation of Venezuelan petroleum activity, according to the government.

ALSO READ: Afghan airports: Taliban deny deal with Turkey, Qatar

Previous Story

Global Covid caseload tops 279.4 mn

Next Story

Security beefed up in Kabul

Latest from -Top News

Deadly Fever Grips Senegal

Currently, there is no vaccine or antiviral treatment approved for human use against RVF. Senegal is facing a growing public health emergency as the death toll from a Rift Valley Fever (RVF)

Protest Crackdown in Abidjan

The protest ban came just a day before the planned march, with the prefect of Abidjan declaring all gatherings illegal to “preserve public order” ahead of the polls. Authorities in Ivory Coast

Seychelles Chooses Herminie

Herminie’s win gives his United Seychelles party full control of government after it reclaimed a parliamentary majority during last month’s general elections. Seychelles’s opposition leader, Patrick Herminie, has emerged victorious in the

Fragile Peace Returns to Gaza

Carrying bags, blankets, and a few salvaged belongings, families walked through the dusty highway under the afternoon sun. Many pushed carts or led donkeys loaded with what was left of their possessions.

Egypt to Host Gaza Peace Talks

Cairo summit aims to end war and open a new chapter for regional stability. The summit will gather leaders and senior officials from more than 20 countries, including the United Kingdom, France,
Go toTop

Don't Miss

Oil giants slash production

The Saudi Ministry clarified that the decision is a precautionary

India to lead demand for oil till 2045

OPEC report reveals India will take the leading role in