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PDVSA Petromonagas exceeds production targets for upgraded crude

Barcelona.- PDVSA Petromonagas has met the goals it was assigned, achieving sales of 5,334,132 barrels of upgraded crude between the months of January and February 2008, against last year’s pre-nationalization figure of only 4,536,000 barrels produced during the same two months of last year.

The nationalized company, formerly known as Operadora Cerro Negro, is responding with performance and professionalism to its commitments to the country and its trading partners, closing last week with an average production of 113,500 bpd of heavy crude from the Orinoco Oil Belt. It is on track to increasing its production figures and breaking its record again in March, at the same time following the strictest security measures in harmony with the environment.

The Office of the President of PDVSA Petromonagas presented the balance of its results so far for the first quarter of the year, reporting on the successful process of adapting to the tasks of producing, upgrading and marketing the crude oil and its derivatives that this affiliate of Petróleos de Venezuela, S. A. is developing with its eyes set on expansion.

Dispatch of solids
Similarly, the marketing of coke, a solid residue of heavy crude, whose commercial value was disdained by the former transnational operator ExxonMobil, also generated profits for PDVSA Petromonagas, with the sale of 179,860 tons to markets in Turkey, Ecuador, Holland and Spain, countries that use this product to fuel their energy plants and cement factory ovens, among other uses.

A similar situation was reported in the case of sulfur, another by-product of the crude upgrading process, with the sale of 6,850 metric tons to the Brazilian market during the months of January and February 2008, becoming a resource in great demand.