Venezuelan President Reports Stable Growth in Oil Industry
Nicolas Maduro said that in the third quarter, oil and natural gas production in the republic increased by 12.99%, and also noted a “significant increase” in oil exports.
Venezuela has achieved stabilization in the growth of the oil industry and an increase in hydrocarbon production. Venezuelan President Nicolas Maduro announced this on Tuesday at the National Council for the Productive Economy, which was broadcast by Venezolana de Television.
“Through our own efforts, we have achieved stable growth in the Venezuelan oil industry,” Maduro said.
The President said that in the third quarter of this year, oil and natural gas production in Venezuela increased by 12.99% and noted a “significant increase” in oil exports. According to Venezuela’s state oil and gas company PDVSA, oil production in October amounted to 786 thousand barrels per day.
Maduro pointed to Venezuela’s economic growth over the past nine quarters. The head of state announced the development of a plan for the economic development of Venezuela for 2024-2026, improving conditions and increasing labor productivity.
“It is necessary to protect the national producer and increase the efficiency of technological and financial unification with our friendly countries of the world,” the president emphasized.
