PDVSA estimates lower their operating costs by 28% this year

According Eulogio Del Pino produce a barrel of oil costs $ 13 to the company.

The president of Petroleos de Venezuela and Minister of Petroleum and Mining Eulogio del Pino, said that state oil deepen measures to reduce operating costs this year by 28%.

He stressed that the main objective is to reach a production cost of around $ 10 per barrel from the current $ 13, according to its figures.

He said the national oil corporation working to maintain profitability in a new year of low prices, according to estimates of various energy agencies and specialists polls. Although not detailed the percentage reduction in 2015 said that PDVSA made a significant reduction in costs

The senior official stressed that the average cost of oil production in Venezuela is around $ 13 per barrel and not $ 20 as discussed. He explained that “this average includes production costs of different fields, ranging from $ 5 per barrel, other higher, incorporating enhanced and improved raw recovery.”

PDVSA President comes forward to reports in various media, according to which Venezuela, Colombia and Ecuador, would already selling their crude below their production costs.

Analysts have noted that the average cost of producing a barrel in Venezuela would be among the 22 to $ 18, the latter in the lower case.


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