Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (37662)	2/17/1999 5:19:00 PM
From: pz	Read Replies (1) \| Respond to of 95453

Wednesday February 17, 3:13 pm Eastern Time Venezuela to meet full oil output cuts this month CARACAS, Feb 17 (Reuters) - Energy and Mines Minister Ali Rodriguez said Wednesday that Venezuela would complete the 525,000 barrels per day oil output cut it pledged to undertake last July by the end of this month. Asked if Venezuela intended to meet the full output cut, Rodriguez told reporters at Miraflores presidential palace: ''Yes, this month.'' He declined any further comment including Venezuela's current level of production. State oil company Petroleos de Venezuela President Roberto Mandini said at the weekend that Venezuela hoped to meet the oil output cuts by March. ''These cuts have to be done in an intelligent way,'' Mandini was quoted in Sunday's El Nacional newspaper. ''We have to go well by well, so that it affects the economics of the business as little as possible. We're doing it and will have it completed for March if possible.'' Venezuela acknowledged late last year that it was still about 150,000 bpd short of completing the 525,000 bpd cuts aimed at reducing supply to glutted world oil markets. President Hugo Chavez, who took office on Feb. 2, has insisted that his government will comply with the agreed upon cuts.