North American Blue Energy Partners ramps up Venezuelan oil production by 20,000 bpd, with plans to double active rig counts to accelerate supply growth.
Venezuelan production increase adds to global oil supply, exerting mild downward pressure on prices.
North American Blue Energy Partners has increased Venezuelan crude production by 20,000 barrels per day since August. The firm plans to double its operational capacity by activating three additional rigs to further expand output in the region.
NABEP has increased output by 20,000 barrels per day since August and is currently expanding its infrastructure by activating three additional rigs.