<article><p class="lead">US oil major Chevron is lowering its estimated year-end oil production target in Venezuela from 200,000 b/d to 175,000 b/d, according to sources familiar with operations, citing severe problems with oil-transportation infrastructure in western Venezuela. </p><p>The general state of disrepair in the Lake Maracaibo navigation channel in Zulia state, which limits the size of oil tankers Chevron can use to ship oil out, remains a major concern, according to the sources. The poor condition of oil storage facilities in Zulia are also a factor. </p><p>General disrepair of Venezuela's energy infrastructure was <a href="https://direct.argusmedia.com/newsandanalysis/article/2422984">expected to be a limit on any plans to increase production</a> following the US easing some sanctions on Chevron's Venezuela operations last year. Chevron is currently producing around 120,000 b/d from its four Venezuelan projects.</p><p>Chevron declined to comment on details of its Venezuelan operations.</p><p>The downward revision followed a meeting Monday between Chevron's top in-country representative, Javier La Rosa, and oil minister/president of state-owned PdV Pedro Tellechea. </p><p><a href="https://direct.argusmedia.com/newsandanalysis/article/2445029">Venezuela claims</a> the country as a whole is producing more than 800,000 b/d and <a href="https://direct.argusmedia.com/newsandanalysis/article/2449032">plans to reach 1mn b/d come August</a>, but many observers call those figures unrealistic. <i>Argus</i> estimates Venezuela's April production at around 750,000 b/d. </p><p class="bylines">By Carlos Camacho</p></article>
