Venezuela's Major Oil Field Resumes Pumping Oil

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Last updated at: (Beijing Time) Tuesday, January 14, 2003

Venezuela's Major Oil Field Resumes Pumping Oil

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Venezuela's Punta de Mata oil field in the northeastern state of Monagas has begun operating following the disruption of the general strike, and its daily output has reached 50 percent of the normal level, the Venezuelan press reported on Monday.

The press quoted Elias Macho, production engineer of the oil field, as saying the daily output now stood at 1.1 billion cubic feet a day and the production was expected to return to normal in the coming days.

The oil field usually pumps 165,000 barrels of oil a day which are sent to Puerto La Cruz refining plant for shipment abroad.

However, Venezuela, the world's fifth largest oil exporter, pumping 2.7 million barrels of oil a day to international markets before the outbreak of the general strike on December 2, now still needs to import oil to meet its domestic demand.

Also on Monday, the local press quoted Horacio Mendina, the opposition leader and president of Unapetrol de Venezuela oil company, as saying present oil imports could not meet the demand at home.

Medina said Venezuela needed 250,000 barrels a day to meet domestic demand and now there was a shortage of 185,000 barrels.

The opposition leaders and businessmen, who blame the government for an economic contraction, called on the strike to press for the resignation of President Hugo Chavez and early elections.

As the strike enters its sixth week, there seems no letup from the two sides.

The strike has dealt a deadly blow to the nation's oil industry,with oil output and exports nose-diving and fuel and food in short supply.

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