What do you say I just schedule this headline to automatically reappear once a year?
Venezuelan state oil company PDVSA now projects 4 million barrels a day of output in 2015, down from last year’s plan for 4.46 million. Plans are to grow to 6 million bbl/day in 2019. It’s all pretty tricky, as PDVSA will need to come up with billions of dollars in oilfield investment, rather than spending every spare dime on housing and Ponzi schemes. We’ll see.
I’d add more detail from today’s newly released financial reports, but PDVSA doesn’t see fit to share with the public on the web, instead handing out the financial report on paper to invited guests. I keep deleting the obscenities I am writing here, because this is a family blog.