<article><p class="lead">Venezuela crude production rose to 843,700 b/d in July based on oil ministry figures, returning to an increase after June's drop that was one of the first such declines so far this year.</p><p>The US eased sanctions on Venezuela late last year, allowing some increased investment from outside partners in Venezuela's fields.</p><p>The July figure includes condensates and natural gas liquids (NGLs), the ministry reported. Once those byproducts are deducted — as Opec figures typically reflect — production was about 808,000 b/d, still an increase from the comparable figure of 788,000 b/d in June, an industry source estimated.</p><p>June's <a href="http://direct.argusmedia.com/newsandanalysis/article/2465808">production was about 806,300 b/d</a> including condensates and NGLs, oil ministry Menpet said last month.</p><p>Most outside sources report lower monthly production figures for the country. <i>Argus </i>estimated Venezuelan production in June at about 760,000 b/d.</p><p>The Orinoco oil belt, known as the <i>faja</i>, remains the top oil-producing region in Venezuela, with a 503,600 b/d average in July, up from 485,500 b/d in June. Oriente production also rose, to 164,900 b/d, from 156,100 b/d in June, while Occidente output was up as well, to 175,200 b/d from 164,700 b/d in June.</p><p>In Maracaibo, ChemStrategy consultants also reported around 173,000 b/d from Occidente in July, separate from the ministry.</p><p>Increased gasoline production from state-owned PdV's refineries and renewed export activity out of the Paraguana refining complex (CRP) — with a far underutilized capacity of 971,000 b/d — have supported the boost in crude output, analysts in Caracas and Maracaibo told <i>Argus</i>.</p><p class="bylines">By Carlos Camacho</p></article>
