The latest fire at one of Venezuelan state-owned PdV's oil installations has temporarily knocked out up to 130,000 b/d of heavy crude production from three of the firm's joint ventures with foreign partners.
The blaze broke out on 26 April in a waste oil pond at its 300,000 b/d Morichal Operational Center (Comor) in Monagas state.
PdV shut the Comor complex preventively when the fire started, temporarily impacting production from the PetroSinovensa joint venture with Chinese state-owned partner CNPC, PetroCarabobo with Spain's Repsol and an Indian consortium, and PetroIndependencia with main partners Chevron and a Japanese consortium. Normal operations by next week will be restored.
Venezuela's crude production was already battered by US oil sanctions and the collapse of oil prices and demand stemming from the pandemic. The country produced around 650,000 b/d in March, down from 790,000 b/d a year earlier.
