Petroleos de Venezuela SA (Pdvsa), Venezuela's state oil company, plans to increase its tanker fleet and foreign oil storage capacity.
Pdvsa will buy more vessels to boost its export tanker capacity enough to handle 30% of Venezuela's exports vs. the current 14%.
At yearend 1988, Pdvsa had 19 tankers with total capacity of 768,000 dwt.
Pdvsa did not disclose details on how many or what kind of tankers it expects to buy or how it will expand foreign oil storage capacity.
The company owns or leases storage depots in the Netherlands Antilles in addition to facilities it owns through foreign refining ownership interests.
PLANS FOR 1990
Financial and operational results Pdvsa projects for 1990 include:
- Spending $2.7 billion in capital outlays.
- Taking in $10.7 billion in oil export revenues, up from about $9.3 billion in 1989 and $8.2 billion in 1988.
- Producing an average 1.945 million b/d of oil.
- Exporting 1.774 million b/d of oil at an average price of $16/bbl.
- Increasing proved reserves of crude oil to 59.6 billion bbl by yearend from the current level of 58.5 billion bbl.
- Boosting proved reserves of gas slightly to 3.01 tcf by yearend.
- Processing an average 865,000 b/d of crude in domestic refineries, 185,000 b/d at its leased refinery on Curacao, and 618,000 b/d in its foreign interest refineries.
- Selling about 533,000 bbl of oil equivalent (BOE)/day domestically, which breaks out to 343,000 BOE/day of liquids and 190,000 BOE/day of natural gas.
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