Venezuela, a once-thriving oil-producing country whose output has plummeted dramatically in the last ten years, is close to one million barrels a day, its president, Socialist Nicolas Maduro, said on Saturday that it wanted to increase it to two. million “in 2022.
“We are reaching one million this year, the goal for next year is to reach 2 million,” he said in an interview with public television.
Venezuela’s production, which had reached 3.2 million barrels per day in 2008, collapsed, falling to less than 400,000 barrels in 2020, to its lowest level since 1930-1940.
“We will recover production with Venezuelan investment, minute by minute, oil by oil,” Maduro continued, attributing the reduction in production to US economic sanctions imposed in order to oust him from power.
Many experts, however, argue that the decline in Latin American production was due to several years of mismanagement by the state-owned PdVSA (Petróleos de Venezuela SA) during the days of the late former President Hugo Chavez, whose Nicolas Maduro is .
The head of state also said that the country, which is experiencing an unprecedented economic crisis since 2014, has returned to “growth in the second quarter of 2021”, a fact that contradicts what is published by the International Monetary Fund and the estimates of observers.
“Venezuela’s economy is clearly in a period of recovery. We have returned to economic growth. In the second quarter of 2021, we had growth of 7.5% (…) the real economy is on the path to growth,” Maduro assured.
The economic sanctions hit the country “like an atomic bomb”, he added, stressing that “Venezuela had a wartime economy (…) that was imposed on us”, however “out of suffering, we went into resistance and now into growth”.
“Venezuela has its own engines. It has the industrial potential, the technological potential, the know-how” to be able to emerge “with its own forces out of the crisis” and reshape “the old oil-based capitalist economy,” he said. country.
Source: AMPE
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Source From: Capital
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