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


To: Broken_Clock who wrote (44886)5/17/1999 6:33:00 PM
From: CommanderCricket  Respond to of 95453
 
When are the API numbers due out?




To: Broken_Clock who wrote (44886)5/17/1999 6:33:00 PM
From: Tomas  Read Replies (2) | Respond to of 95453
 
Venezuela has to spend about $2.5-3 billion annually to offset the natural decline in its oil wells. That is a lot of money to spend just to stand still.

If investment were to dry up altogether, Venezuela's oil production would decline by at a rate of 23 percent per year, due to the depletion of reservoirs.

Full article: ANALYSIS - Has OPEC tamed wayward Venezuela?
biz.yahoo.com