Back

Andean Group - May 2005 (ISSN 1741-4466)

Strange goings on at Pdvsa

At the beginning of May the Venezuelan military sent helicopters, boats and jeeps to the western state of Zulia in order to reinforce security around the oil installations there. The move followed President Hugo Chavez's announcement, on 3 May, that production levels in the western division of the state oil company Pdvsa were 100,000 bpd below the quota assigned by Opec. The reasons for the drop-off in output are as yet unclear. Although Chávez admitted that part of the fault of the underproduction comes from management errors, he also spoke dramatically of the "black and hairy hand" of sabotage.

End of preview - This article contains approximately 591 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options