Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
IRGC statement: Repetition of evil will lead to the realization of the common aspiration of the Islamic nation and free peoples to eradicate the cancerous gland of Zion.
IRGC statement: Any repetition of evil will accelerate the collapse of the US military establishment in the region.
IRGC statement: US bases and mobile military targets in the region are not a strength of this national defense, but rather a weakness.
IRGC statement: Iran will not leave any attack on its territorial integrity, sovereignty, or national security unanswered under any circumstances.
IRGC statement: This base is the headquarters of the Air Force and the largest strategic asset of the terrorist American army in the West Asia region.
IRGC statement: We targeted Al Udeid base in Qatar with a powerful and devastating missile attack as part of Operation Annunciation of Victory.
Explosions heard across Doha: AFP journalists
Qatari Ministry of Foreign Affairs: Qatar temporarily closes its airspace "for the safety of citizens, residents, and visitors."
Al Mayadeen: Israeli warplanes raid the outskirts of Al-Aishiya and Al-Mahmoudiya, Southern Lebanon.
Israeli media: Direct damage from Iranian bombing of "Israel" in one week is estimated at approximately 5 billion shekels (about $1.35 billion)

Venezuela's oil production signals remarkable rebound

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Aug 2023 08:29
  • 1 Shares
3 Min Read

In the dynamic realm of Venezuela's oil industry, a notable resurgence in daily oil production has marked the period from January to July 2023.

  • x
  • An oil rig in Maracaibo Lake in Venezuela (AFP via Getty Images)
    An oil rig in Maracaibo Lake in Venezuela. (AFP via Getty Images)

Venezuela's daily oil production experienced a rise from 732,000 to 810,000 barrels per day between January and July 2023, as per data released by Rafael Tellechea, the Venezuelan Oil Minister and head of the state oil and gas company PDVSA.

Tellechea, expressing his viewpoint on X (previously known as Twitter), attributed this growth to President Nicolas Maduro's strategy and the efforts of PDVSA employees, showcasing the country's ability to withstand blockades and rely on its internal capabilities.

Based on infographics created using OPEC reports on the oil market, Venezuela's oil production was at 732,000 barrels per day in January 2023. The zenith of production was recorded at 819,000 barrels per day in May, while July saw production at the level of 810,000 barrels per day.

In an earlier interview, Tellechea stated that Venezuela aims to attain a production level of 1 million barrels per day by the year's end.

Related News

EU to begin work on 18th sanctions package against Russia: Finnish FM

BRICS FMs condemn unilateral protectionism, call for UN reforms

Furthermore, the nation aspires to achieve a production rate of 1.76 million barrels per day within the subsequent year. During the first half of 2023, oil refining in Venezuela reached 300,000 barrels per day.

This comes a few days after Iranian fuel company NIORDC, sponsored by the country’s Oil Ministry, revealed its first homemade catalyst intended to be installed at a cracking unit in a refinery in Venezuela, where fuel production suffered impediments as a result of parts shortages caused by US sanctions.

In defiance of unilateral US sanctions, Iran has consistently sent fuel tankers to Venezuela in the past few years and helped in refinery repairs.

It is worth noting that PDVSA, the Venezuelan state-owned oil and natural gas company, relies on Iranian South Pars condensate to convert its heavy oil to exportable grades. Iranian crude oil is also refined into motor fuel in South America.

Since 2020, the two countries have worked on expanding cooperation, especially in energy projects and oil trade, amid the draconian US sanctions that they have repeatedly been subject to. This has helped both countries ease the effects of the sanctions on their economies.

Read more: US imposed sanctions on Venezuela to seize oil for free: Venezuelan VP
 

  • sanctions
  • US
  • Venezuela
  • Oil
  • Venezuela's oil industry
  • Iran

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Spain's Foreign Minister Jose Manuel Albares Bueno speaks with the media as he arrives for a meeting of EU foreign ministers at the European Council building in Brussels, Monday, June 23, 2025. (AP Photo/Virginia Mayo)
Politics

Spain seeks immediate suspension of EU association pact with 'Israel'

Israeli settlers evacuate a building damaged in an Iranian missile strike in Tel Aviv, Sunday, June 22, 2025. (AP)
Politics

Tel Aviv streets ghostly; settlers flee under Iranian missile fire

Trump’s secret Iran strike uncovered in explosive CNN report
Politics

Behind the scenes: Trump's decision to strike Iran mapped - CNN

The oil tanker Palanca Rio arrives in Portland, Maine, the United States, Wednesday, April 2, 2025 (AP)
Economy

Oil prices spike as US-Israeli aggression on Iran sparks concerns

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS