TELETRADER News
2/14, 4:30 AM (Source: TeleTrader.com)
more TeleTrader news

Maduro: Venezuela to increase oil, gold output

Venezuelan President Nicolas Maduro said that his government plans to increase oil production by 1 million barrels and to triple gold production, media reported.

Maduro told Al Mayadeen TV channel that Venezuela is using difficulties that resulted from sanctions to create a modern economy. "We have a challenge, which is an additional increase in oil production by 1 million barrels," he said and added that Caracas also has a plan to "increase the extraction of gold three times, as well as gas, steel, iron, and aluminum."

Maduro called upon investors from Arabic and Islamic countries to invest in Venezuela's oil and gas industry and added that "US imperialism has become a paper tiger, and Venezuelan people will win despite sanctions" the US imposed on Venezuela.

Breaking the News / KP