Caracas, Venezuela — An explosion at a 20-inch pipeline that provides natural gas to the PIGAP II gas reinjection plant in northern Monagas state in Venezuela was the result of a “terrorist attack,” the country’s oil minister said, with one analyst saying natural gas and crude oil production has been reduced as a result.
“PIGAP II currently has 20% of its original capacity because the gas injection projects for the artificial lift of crude were discontinued and, as a result, northern Monagas is producing crude well below its potential which reached 1 million b/d,” Einstein Millan, a Venezuelan natural gas specialist, said.
The PIGAP II gas reinjection plant helps produce crude oil at El Furrial fields operated by state-owned PDVSA. The pipeline also serves Spain’s Repsol in Quiriquire. Read more…..
Chart of the Day
Jack Ma, founder and executive chairman of Alibaba Group, the world’s largest ecommerce platform, discusses the future of commerce, entrepreneurship, sustainability and shares his thoughts on what’s next for China and the world.