economy

¿Podrá Venezuela volver a producir tres millones de barriles de crudo al día?

Tras la captura de Nicolás Maduro y su acusación formal en Estados Unidos, el mundo pone la lupa sobre el futuro energético de […]

¿Podrá Venezuela volver a producir tres millones de barriles de crudo al día?

TL;DR

  • Venezuela's oil production has fallen to 800,000 barrels per day from 3.5 million in the 90s.
  • The country possesses the world's largest oil reserves, estimated at 300 billion barrels.
  • Decades of disinvestment, mismanagement, and nationalizations have left infrastructure in ruins.
  • Political instability and the risk of further nationalizations deter foreign investment.
  • US industry leaders are cautious, with Exxon Mobil deeming Venezuela 'unfit to invest' currently.
  • Chevron is the only major US company with an advantage, having stayed in Venezuela and expecting a 50% production increase in two years.
  • Basic maintenance could increase production to 1 million barrels/day soon.
  • Achieving 1.2 million barrels/day requires political stability, according to JPMorgan.
  • Returning to 1.5 million barrels/day requires $15-20 billion in investment over the next decade.
  • Reaching 3 million barrels/day necessitates approximately $180 billion over 15 years.
  • US Gulf Coast refineries are preparing to process Venezuelan crude once sanctions and logistics allow.