Héctor Obregón: “PDVSA reaches a refining capacity of 500,000 b/d and completes 80 new agreements”

Published at: 14/11/2026 10:17 PM

The president of Petroleos de Venezuela (PDVSA), Héctor Obregón, presented the projections of production, refining, gas and alliances in the energy sector during his participation in the AVPG Forum called, Natural Gas: A Great Asset for the Rebirth of Venezuela.

Obregón projected that Venezuela will close the year with a production of 1,300,000 barrels per day and highlighted the effects of 80 new agreements signed in the area of hydrocarbons. He also indicated that the medium-term production goal, at the close of 2027, was 1,500,000 barrels per day, while in the long term, targets of 2,000,000 barrels per day were set in five years and 3,000,000 barrels per day in ten years.

In terms of refining, the head of PDVSA confirmed that in 2022 crude oil processing in the National Refining System stood at nearly 100,000 barrels per day, compared to a current capacity of 500,000 barrels per day.

He indicated that this recovery made it possible to reduce imports and estimated that, at the end of the year, the daily distribution will reach about 140,000 barrels of fuel.

He stressed that in February 2026, an export of gas liquids (LPG) was completed, he planned to expand processing capacity through the recovery of fractionation infrastructures and announced that in 2027 the state of Zulia will start producing liquefied petroleum gas.

Regarding gas and operational agreements, he added that between March and August, technical-financial alliances were established, including one with the company Shell to collect burning gas in the north of Monagas, in addition to joint inspections in the Carito-Pirital field to evaluate improvements in the Amana operating center.

He also indicated that PDVSA and the company UCC, from Qatar, will carry out work in the El Furrial field to recover their infrastructure in light oil and gas fields.

Mazo News Team