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The CEO of Trade and Supply for the Venezuelan state owned oil company Petróleos de Venezuela (Pdvsa), Asdrúbal Chávez expects 26 billion U$ in sales of oil and products to the national and international market by the close of 2004. Chávez explained that “so far this year, including November, we have sold approximately 19,400 million U$”. He affirmed that these figures indicate that “this is going to be an outstanding year for Pdvsa”, due to the complete stabilization of the output of crude oil and products, together with the high oil prices in the international markets.

The average exportation from Venezuela, including the strategic associations for 2004, is around 2.7million barrels per day of both crude oil and its derivatives.

Pdvsa and its strategic associations produce an average of 3.15 million barrels per day of crude oil; and after the recovery of the oil industry in 2003, the corporation has expanded in all of the areas of the oil business.

Published in Quantum N.41