A DAMNING report on Venezuela’s oil sector yesterday by the International Energy Agency (IEA) led Opposition spokesman on energy, Pointe-a-Pierre MP David Lee, to vow to raise questions in Parliament about promised supplies of natural gas to TT from Venezuela.
The bad news on Venezuela came in an otherwise cheerily-titled IEA statement, “Record oil output from US, Brazil, Canada and Norway to keep global markets well supplied: IEA report finds the United States alone will account for nearly 60 per cent of global supply growth through 2023.”
The IEA said, “In Venezuela, oil production has fallen by more than half in the past 20 years, and declines are set to accelerate. Sharply falling production in Venezuela will offset gains in Iraq.”
Lee told Newsday, “Given that production has been declining steadily, it gives us pause for thought. Given that this Government is placing all its hopes on gas from Venezuela via the Dragon Field, I’d like to ask the status of the Dragon Field, and the implications of the latest IEA report.”
He wondered whether Venezuelan president Nicolas Maduro could fulfill his deal with the TT Government. “We have not heard anything about this in the past few months, although they had talked about it in Parliament.” Newsday was unable to contact Energy Minister Franklin Khan.