VOL. XXXIV

NO. 14

7-JANUARY-1991

Supply/Demand

PDVSA Formally Approves Expansion Plans

The annual General Assembly meeting of the state-owned Petroleos de Venezuela(PDVSA) approved on 28 December plans for the expansion of the country's crudeoil production capacity to 3.25mn b/d by 1995, according to Mr. CelestinoArmas, the Energy and Mines Minister. Current output is around 2.33mn b/d. Hesaid that PDVSA would appropriate $5bn for investments in 1991, out of which $2.1bn would be allotted for...