PDVSA EYES RECORD BUDGET, PRODUCTIVE CAPACITY IN 1994

Venezuela's state owned petroleum company Petroleos de Venezuela SA has budgeted $4.2 billion in capital spending for 1994, biggest in its 19 year history and a 13.5% jump from 1993 spending. At the same time Pdvsa plans to boost crude productive capacity to more than 3 million b/d, also a record. Pdvsa crude productive capacity reached 2.87 million b/d at yearend 1993, up from 2.83 million b/d the prior year. The company is targeting a crude productive capacity of at least 4 million b/d by

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