Annals of Goal Post Locomotion


In 2008, PDVSA said they planned to produce 5.8 million barrels per day by 2012.

In 2009, it was 4.9 million b/d by 2013.

In 2010, they pledged 4.46 million b/d in production by 2015.

Now they’re saying they’ll get to 4 million b/d by 2015.

…and if it wasn’t for Setty, we wouldn’t even hear about it.

Caracas Chronicles is 100% reader-supported. Support independent Venezuelan journalism by making a donation.


  1. There we go again. That mean imperialistic, capitalistic, ultra-right-wing “reality” getting in the way of the Bolivarian Revolution and its dreams.

    Clearly, El Micomandantepresidente should expropriate it to teach it a lesson or two about proper revolutionary obedience.

  2. In my humble opinion, Venezuela might be producing 4 (or even 5) million barrels on 2015. But not PDVSA.

    It will happen because the present “management” is making PDVSA nonviable. Like SIDOR and many others, it will become quite ripe for (gasp!) privatization.

  3. Leopoldo had a graph on this in his presentation yesterday. This is the core element of the criticism that the opposition should be presenting to the government: We all agree in the objective, but you have shown yourself repeatedly incompetent in developing it. It’s time to stop saying and start doing.

  4. Here is yet another 5 million BOPD prediction. This is from 2004, for 2009 production, in a Statement of the Embassy of Venezuela Before the US Senate Committee on Energy and Natural Resources.

    Having made such a successful and complete turnaround in 2003, we are now ready to look to the future. PDVSA’s 2004-2009 business plan is both ambitious and realistic. The plan calls for an increase in crude oil production capacity from the current 3.8 million barrels per day to more than 5 million barrels per day by 2009.

    While this increase will be achieved principally from substantial investments by PDVSA, there will also be sizable investments by foreign oil companies – including U.S. companies – in Venezuela. Under the business plan, a total of $37 billion will be invested in the Venezuelan energy industry over the next five years. Foreign companies will account for 26 percent of this total. PDVSA’s plans provide tremendous business opportunities for U.S. companies. In addition, Venezuela has a legal framework in place that allows for foreign participation up to 49 percent in upstream activities, 100 percent in downstream activities, and 100 percent in natural gas projects.

    If you repeat it often enough, it becomes reality, no?

    • It would appear that blockquote doesn’t work on the new system.

      Let’s see if blockquote works on this statement.

      The proof of the pudding etal, et al.


Please enter your comment!
Please enter your name here