Venezuela Needs Billions to Rebuild Oil Infrastructure, Says Lipow Oil Associates President
Andy Lipow stated that restoring Venezuela’s oil production capacity would require tens of billions of dollars and could take years before any significant supply increase.
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Terms & Concepts
Oil Infrastructure: The network of facilities and systems used for extracting, processing, and transporting crude oil.
Oil Production Capacity: The maximum amount of crude oil that a country or company can produce within a specific time period.