[REVISION HISTORY]
PDVSA oil production and investment targets
Updated 1 time since CLSTR started tracking revisions of this situation.
What changed
2026-10-11 22:18 UTC → 2026-10-11 23:17 UTC ·
added
removed
PDVSA, Venezuela’s state-owned oil company, has announced plans is implementing a strategic roadmap to attract new investment and increase production capacity revitalize its energy sector through 2027. increased production and international investment. President Héctor Obregón has stated that the company aims to sign 105 petroleum contracts by the end of 2026, noting that 2026; as of recent reports, 61 have already been signed finalized and 44 remain pending. under negotiation. Approximately 70% of these agreements involve new oil fields. The company intends to raise daily oil production from roughly 1.2 million barrels to 1.5 million barrels by the end of 2027. Additionally, Rystad Energy has projected even higher potential, estimating production could reach 1.6 million barrels per day by 2028 and 1.8 million by 2030, driven by a diversifying roster of international operators including Chevron, Eni, Repsol, and Shell. On the refining front, PDVSA plans to expand its refining capacity from 350,000 barrels per day to between 500,000 and 600,000 barrels per day during that same period, while working by 2027. To support this growth, specialized drilling and technical workover equipment has arrived in the country to begin the operational phase of infrastructure recovery. Efforts are also underway to reactivate the Cardón refinery. refinery following a recent fire.
Versions
- 2026-10-11 23:17 UTC PDVSA oil production and investment targets
- 2026-10-11 22:18 UTC PDVSA oil production and investment targets
Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.