The Organization of the Petroleum Exporting Countries (OPEC) released its monthly production report today, showing that Venezuela’s oil production has fallen from the numbers that in posted in March of this year.
According to the bulletin, Venezuelan oil fields produced 622,000 barrels per day (bpd), compared to 660,000 in March and 760,000 in February. Production is down from an average of 1,354,000 bpd in 2018, and 796,000 bpd in 2019.
Bloomberg: PDVSA Subsidiary Suing Former US Congressman
Bloomberg reported today that a PDV USA, the subsidiary of the state-owned PDVSA, entered into a $50 million agreement with former Republican Florida congressman David Rivera to help boost the company’s reputation in the United States. In the end, PDVSA paid only $15 million. According to Bloomberg:
But for that amount, the company says it basically got two reports totaling no more than five pages, much of which was copied from other sources.
In a lawsuit filed today, PDV USA alleges that Rivera’s firm, Interamerican Consulting, “performed no meaningful services under the agreement”.
Rivera represented his district until 2012.
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