US Seeks to Boost Venezuela Oil Output to 1.5 Million Barrels a Day, Official Says
Interior Secretary Doug Burgum says American companies will lead an expansion effort as Washington looks for new supplies and lower-cost crude.
The United States is aiming to raise Venezuela's oil production to 1.5 million barrels per day, according to a report by Anadolu Agency, which cited comments from US Interior Secretary Doug Burgum.
Burgum said American companies would lead the expansion effort, according to the report.
The push comes as Washington seeks new sources of crude supply and lower-cost oil, Anadolu Agency reported, though the report did not specify a timeline for reaching the production target or provide additional details on the scope of the initiative.
Venezuela holds some of the world's largest proven oil reserves, and its production has fluctuated in recent years amid economic and political challenges facing the country.
Further details on the specific companies involved, the mechanisms for the planned expansion, or any agreements with Venezuelan authorities were not included in the available report.
Sources
- US aims to raise Venezuela oil output to 1.5M barrels per day — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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