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(PDVSA), with a drastic drop in sales and withdrawals recorded for months, reported Efe.
The production level in June, which OPEC published in its monthly report and based on estimates from various independent institutes, is 571 thousand bd below the 2017 average of 1.91 mbd [19659002] The official data provided by Caracas to the organization are slightly higher, although they reflect the same trend: a pumping level of 1533 mbj in June, with a monthly decrease of 2,000 bd.
The Venezuelan country's production, which has the largest proven reserves of crude in the world, is at the lowest of the last three decades, with the exception of several months between the end of 2002 and the beginning of 2003, when a strike in PDVSA tumbled to less than 100 thousand bd.
Venezuela, which had become the third largest producer of OPEC, came to occupy the eighth place among the fifteen members, with 4.15% of the volume The situation reflects the lack of investment in the oil industry as a result of the deep economic crisis that the country is going through.
The situation is aggravated by the financial penalties imposed on Caracas for Washington, which prohibits US companies from negotiating new debts issued by the Venezuelan state and its state oil company.
PDVSA has been declared insolvent by several international bank financing agencies due to delays in the payment of maturities of several of their obligations.
The President of the Republic, Nicolás Maduro, accuses the problems of sanctions and corruption in the company, that during the mandate of the deceased President Hugo Chávez is heavily indebted for the purpose of & dquo; Increase its pumping to 6 Mbps
On the 27th, the Maduro government denounced acts of sabotage that left millions to Pdvsa and affected two of its joint ventures. which would have stopped producing 175 thousand bd of crude oil.
A total of 90 state company officials are under investigation by Venezuelan justice in connection with alleged acts of corruption and sabotage.
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