At the beginning of 2020, one hundred drilling rigs were operating in Venezuela, and now one
07.08.2020
According to some sources, this one, the only drilling rig operating in the Bolivarian Republic of Venezuela, has also been stopped. The sanctions have caused Chevron (USA) and oilfield services company Nabors Industries Ltd (USA) to stop operations in Venezuela. As the American company Baker Huges, counting the number of drilling rigs, reported in June, 100 drilling rigs were operating in the country at the beginning of 2020, and one in June. Venezuela produces oil only in the Orinoco basin. All other oil production has been suspended.
Venezuela is almost completely dependent on oil, and its production has fallen back to 1945 levels. According to Bloomberg, citing the Venezuelan state oil company PDVSA, the country produces 374 thousand barrels per day, which is half the level at the beginning of the year.
Until recently, Rosneft exported oil by tankers from Venezuela, but in March, due to US sanctions, activities were stopped. In June 2020, at least 16 tankers carrying a cargo of oil equivalent to two months of Venezuelan production were stuck at sea due to buyers' fear of falling under US sanctions. Deliveries of oil from Venezuela are now practically impossible even to Cuba.
