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| | CorpWatch : Venezuela: The Fight to Regain Position in Oil Market |
 | | CARACAS-- Venezuela's state oil monopoly, PDVSA, one of the biggest companies in the Southern Hemisphere, is facing the challenge of holding onto its status as one of the world's leading oil firms after a two-month lockout that crippled output and the dismissal of nearly half of the company's executives. |
 | | Venezuela's oil output, which officially stood at 2.8 million barrels a day in November, "has recovered, and now amounts to 3.2 million barrels a day, 2.5 million of which belong to PDVSA, and the rest" to joint ventures with foreign firms, said the president of the company, Al Rodrguez. |
 | | In the medium-term, he said, Iraq could see its pre-war oil output of 2.5 million barrels a day rise two or threefold, "because Iraqi crude is light and sweet," which means it is easy to refine and has low sulfur and nitrogen contents. |
| www.corpwatch.org /article.php?id=6370 (1154 words) |
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