Venezuela to boost Sinovensa oil project output

Venezuela's Petrolera Sinovensa oil project will boost output to 110,000 barrels per day from 65,000 barrels per day within three months, a director of state oil company PDVSA said on Thursday. Sinovensa is a joint venture between PDVSA and China National Petroleum Corporation, or CNPC, that produces tar-like crude from the vast Orinoco belt that is mixed with lighter oil and sold as a crude blend. 'Right now we are producing 65,000 barrels at Petrolera Sinovensa and we are going to increase it to 110,000 within three months,' Eulogio Del Pino told reporters on the sidelines of an energy conference.