- CARACAS: Venezuela’s oil production fell to 2.77 million barrels per day (bpd) in June from 2.79 million bpd the month before, the oil ministry said.
The South American OPEC member said exports of crude and products also declined to 2.41 million bpd in June from 2.48 million bpd during May.
President Hugo Chavez’s government ended a certification deal with French company Inspectorate in March, adding to skepticism over official estimates of its vital oil sector.
Venezuelan officials routinely give higher figures for crude output and exports than those provided by industry experts and international energy organizations including OPEC.
Crude production fell in 2010 to its lowest level since a crippling strike at state oil company PDVSA in 2002 and 2003.
The government is seeking to revitalize the declining sector through a program of boosting production at mature fields and a series of projects with foreign companies to tap the giant Orinoco extra-heavy crude belt.
Last month OPEC said Venezuela overtook Saudi Arabia in 2010 as the world’s No. 1 holder of oil reserves with 296.5 billion barrels, most of them in the Orinoco belt.

