Russia-Venezuela JVs boosting oil output in Venezuela, exceeding plan by 16% - Novak

MOSCOW. Oct 16 (Interfax) - Russia-Venezuela joint ventures are ramping up oil production in Venezuela, Russian Deputy Prime Minister Alexander Novak told reporters.

Novak said that the JVs produced 35 million barrels of oil last year, and they are currently exceeding the plan by 16%.

Meantime, Novak did not specify how much oil output is expected to grow compared to 2022, noting that while the plan is being exceeded, the goal is to boost production.