TNK-BP’s JV with Petroleos de Venezuela Increases Output by 11%

NASDAQ reported TNK-BP’s (OTC Pink:TNKBF) JV with Petroleos de Venezuela increased its production of viscous oil by 11%.

As quoted in the market news:

In a statement released Tuesday, TNK-BP said its plans to produce 145,000 barrels a day by next year at the jointly operated Petromonagas heavy oil upgrader, which is in Venezuela’s vast and mostly untapped Orinoco heavy oil belt. The company owns 16.7% of the upgrader unit while the rest is controlled by PdVSA.

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