Venezuela’s state-owned PDVSA and US-based Chevron restarted production of extra-heavy crude in the Orinoco Belt at their Petropiar joint venture, which is operating at 72,000 b/d or 38% of capacity, according to a technical report reviewed by S&P Global Platts. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The report dated July 12 says Petropiar’s production had fallen to zero since mid-June due to inventory saturation. “Petropiar is limited to producing a crude blend of 15-degree API from extra-heavy crude with light crude. There is no infrastructure available to store blended crude nor sufficient diluent to go to a higher volume,” the technical report said. With Petropiar — PDVSA 70% Chevron 30% — in operation […]