The Oil Drum

* With a Note on Bolivia

Update [2006-5-27 19:2:44 by Dave]: Gulf News reports yesterday PDVSA expects 3.4m bpd output

"We should be closing the year with a production ... of 3.4 million barrels per day," Vierma told reporters. "The average production for this month has been almost 3.3 million barrels per day."

The US Department of Energy and Wall Street analysts say Venezuela's total oil production is only around 2.6 million bpd.

It's time to check in with Venezuela and some other events in South America as Hugo's Bolivarian Revolution goes forward. Apparently, he strives to be Fidel Castro only with oil and without the beard.

Bolivarian Republic of Venezuela

There's lot to report on--oil shenanigans in Venezuela, nationalization of the oil & gas industry in Bolivia, Hugo's deals with China and the escalating conflict between Hugo and the United States.

Sheesh! There I was, just quietly slipped out of town for a quiet week at one or two of those conferences and westexas slips this little spark-emitting fizzy sounding thing into the comments. The FT story requires subscription, but the Mosnews seems to have most of it. The basic story itself is a dash of water in the face...all of it suggests that we are definitely entering one of those "interesting times", if we weren't in it already. (much more under the fold).