Venezuela's oil production exceeds 1.23 million barrels per day

Published at: 14/08/2026 11:46 AM

Our country's oil production exceeded 1.23 million barrels of crude oil per day, said the president of Petroleos de Venezuela (PDVSA), Héctor Obregón, who specified that our country's refining capacity exceeds 350,000.

“Today we have resumed the goal of 1 million 200 thousand. In fact, today we have a specific goal, day, of one million 233 thousand. It was our closing today,” the official said.

In addition, the PDVSA executive highlighted that, with domestic production, fuel supply is maintained through more than 1,600 service stations.

Obregón explained, in statements collected by the Venezuelan News Agency (AVN), that the reform of the Organic Hydrocarbons Law incorporated new contractual figures, including Financial Technical Alliances, Service Alliances and Productive Participation Contracts (CPP), mechanisms aimed at strengthening participation and attracting investment.

The president of the state company noted that the recent publication of the Hydrocarbons Law Regulations makes it possible to establish rules for the practical application of legislation and to provide clear rules to national and international investors.

Mazo News Team