Venezuelan officials say they have program to improve PDVSA

Petroleos de Venezuela SA (PDVSA) is a reliable supplier of oil and petroleum products to the US, and this market a good opportunity for the $43 billion it needs to increase its oil production to 5.1 million b/d by 2008 from a current annual average of 3 million b/d, said PDVSA Pres. Alí Rodríguez Araque May 5 in Houston."We estimate that around 46% of this amount will be covered by the national and international private sector," said Rodríguez at a press conference in a Houston hotel some miles from where the annual Offshore Technology Conference opened its 4-day run May 5. A meeting with oilmen at the hotel was scheduled after the press conference at which Rodríguez,...

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