VOL. XXXI

NO. 24

21-MARCH-1988

OPEC

Venezuela Cuts Estimate of 1988 Oil Income

Venezuela has lowered its estimate of per-barrel earnings from its oilexports in 1988 but will partially offset the drop in revenues by increasingexports of condensate (which is not included in its 1,571,000 b/d OPECproduction quota), according to Energy and Mines Minister Arturo HernandezGrisanti. Dr. Grisanti told a congressional panel in Caracas on 15 March thatthe state oil company PDV now expects to earn an average...