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Venezuela to Explore for More Oil

August 14, 2001

CARACAS, Venezuela (AP) _ Venezuela’s state oil company will spend $22 million this year exploring for oil around the Caribbean islands of Margarita and La Tortuga.

Petroleos de Venezuela said Tuesday it will explore near the Deltana Platform region close to neighboring Trinidad and in waters off the western state of Falcon and the eastern state of Anzoategui.

Venezuela’s quota as a member of the Organization of Petroleum Exporting Countries is 2.78 million barrels of crude per day and will drop to 2.67 million barrels per day on Sept. 1.

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