Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers


Can Venezuela Fix Its Oil-Industry Woes?

For the first time, Venezuelan President Hugo Ch?vez admitted on May 3 that state oil company Petr?leos de Venezuela (PDVSA) is pumping 100,000 barrels per day less than its OPEC-agreed target of 3.165 million bpd. Chavez has steadfastly denied any problems with the industry since he fired 18,000 workers and managers after a 2003 strike aimed at toppling him. Now he's blaming poor maintenance of aging oil wells and perhaps sabotage by disgruntled workers. What's unclear is whether a new shake-up lies ahead. Analysts say the shortfall is worse than acknowledged -- at least 400,000 bpd. Venezuela is the No. 4 oil supplier to the U.S.

EDITED BY Edited by Rose Brady

blog comments powered by Disqus