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IEA sees a slow growth in Venezuelan oil capacity even in a post-Chavez world

Posted on 15 March 2013

The International Energy Agency marked the passing of Venezuela’s President Hugo Chavez by adding its voice to a wealth of editorials pointing to a neglected oil industry which has sapped the country’s output and capacity.
In its latest monthly oil market report, the IEA warns of a “further degradation” of the state oil company PDVSA should Chavez’s policies live on under his hand-picked successor Nicolas Maduro. The IEA also predicted that the country’s net capacity will increase less than 8% over the next five years………………………………….Full Article: Source


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