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
Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

Venezuela is ready to supply the global oil and gas market - Maduro

  • By Al Mayadeen English
  • Source: Agencies
  • 15 Sep 2022 09:10
4 Min Read

OPEC Secretary-General visits Caracas and meets Venezuelan President Nicolas Maduro to discuss Venezuela playing a significant role in supplying oil to the global market.

  • x
  • Bolivarian Republic of Venezuela Nicolas Maduro and OPEC Secretary-General Haitham al-Ghais
    Bolivarian Republic of Venezuela Nicolas Maduro and OPEC Secretary-General Haitham Al-Ghais

The Bolivarian Republic of Venezuela is “ready” to supply the global oil and gas market to fill the gap that crippled the world following the Ukraine war and anti-Russia sanction by the Collective-West, said Venezuelan President Nicolas Maduro on Wednesday.

At an event during the Organization of the Petroleum Exporting Countries (OPEC) secretary-general Haitham Al-Ghais’s visit to Caracas, Maduro stated that "Venezuela is ready and willing to fulfill its role and supply, in a stable and secure manner, the oil and gas market that the world economy needs."

Damos la bienvenida en la patria de Bolívar y Chávez al Secretario General de la #OPEP, su excelencia #HaithamAlGhais y su comitiva, para abordar junto a @TareckPSUV una importante agenda de trabajo en materia energética, bajo la orientación del Presidente @NicolasMaduro pic.twitter.com/gMhpnSRoOR

— Carlos Faria (@Fariacrt) September 13, 2022

The current output for Venezuela is approximately 700,000 barrels per day in comparison to 2.3 million barrels back in 2002. However, the president insisted that the country’s oil industry has “recovered” despite historic low-level productions that have resulted from a lack of maintenance and investment.

In May 2022, Maduro acknowledged, in a broadcasted speech to Venezolana de Televisión, the Venezuelan Oil Minister Tareck El Aissami for his and the workers’ efforts for improvements in the given sector. Maduro said that "He (El Aissami and workers) have achieved the oil industry's recovery with their own effort, with their own work, with their own technology."

During the same speech, Maduro detailed the Venezuelan oil and gas crisis and linked it to the role of the US and its sanctions against his liberated nation.

He said that "The entire Venezuelan oil industry, the refineries, the upgraders, the petrochemicals are technology dependent on the United States, there are machines that even turn off, as happens with Western technology, that sell a machine (to work) until 2018 and in 2018 it turned off and the only way to turn it on is to change a card and pay a little real (money) so that they put in (insert) the new card for four years, (...) And our technicians, workers, and scientists came and activated everything."

Related News

OPEC+ eyes full return of 2.2 million barrels amid compliance rift

OPEC+ to boost oil output again amid market weakness, internal rift

Read more: OPEC+ to cut oil production by 100,000 BPD in October

Recently, in the past few months, and due to anti-Russia sanctions, Moscow sharply reduced deliveries of oil and gas to Europe. Russia has historically been Europe’s largest oil and gas supplier. The decrease in deliveries raised fears of shortage and increased prices given that winter is almost there.

OPEC Secretary-General Haitham Al-Ghais, while in Caracas, has warned that the organization is faced with a “more serious, more critical” challenge than any it has faced since its foundation 62 years earlier.

On this note, Maduro argued during a meeting with Al-Ghais that OPEC+ is urged to strive toward establishing a “fair” oil price at $100 per barrel.

"In the face of forecasts about the situation in Europe and the West, with the arrival of fall and winter, we could send a powerful message of stability and balance. And direct all appropriate actions to ensure that the price of oil is kept in a fair, necessary and balanced way at around $100 per barrel," Maduro said. 

The existing balance of supply, production, global supply, and demand for oil, according to Venezuela's leader, indicates that oil should cost $100 per barrel.

Maduro said that despite "the worst manifestations of Western irrationality," the alliance's measures allowed prices to avoid the hike of prices to $150 per barrel or more.

Read more: Iran ready to bolster global energy security: Minister

  • OPEC
  • President Nicolas Maduro
  • Venezuela
  • OPEC+
  • Haitham Al-Ghais

Most Read

Pro-Palestinian protesters march toward the US Immigration and Customs Enforcement (ICE) headquarters, Saturday, April 5, 2025, in Washington (AP)

US House to vote on bill criminalizing boycott of 'Israel'

  • Politics
  • 3 May 2025
Throughout Operation Prosperity Guardian, current and former US military and intelligence officials expressed disquiet at the enormous “cost offset” involved in battling Ansar Allah. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

Ansar Allah triumphant: US facing Red Sea defeat again

  • Opinion
  • 3 May 2025
Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • Today
Pakistan downs an Indian jet and hits a military base in Kashmir escalation.

Pakistan downs 3 Indian jets, hits military base in Kashmir escalation

  • Politics
  • 7 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
UN experts warn: Stop the genocide or witness Gaza's end
Politics

Stop the genocide or witness end of life in Gaza: UN experts warn

Israeli police attack mourners as they carry the casket of killed Al Jazeera veteran journalist Shireen Abu Akleh during her funeral in occupied al-Quds, Friday, May 13, 2022. (AP)
Politics

Israeli sniper who killed journalist Shireen Abu Akleh identified

The Department of Defense logo is seen on the wall in the Press Briefing room at the Pentagon, Oct. 29, 2024, in Washington. (AP)
Politics

Pentagon’s unused properties drain billions in taxpayer funds

Haaretz
Palestine

Israeli military avoids calling up unwilling reservists: Haaretz

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