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Market Chatter: Eni, Repsol Seek to Increase Venezuela Gas Production

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-- Eni (E) and Repsol seek to increase production at their jointly Cardon IV gas field in Venezuela to 645 million cubic feet per day, Reuters reported Monday, citing comments by the project manager at a conference.

Gonzalo Antonio Carrillos said the field currently produces about 580 million cubic feet per day without saying when it would reach the higher threshold, Reuters reported.

Speaking at the conference, Venezuela vice minister for gas Cindy Rondon said the country needs to speed up repairs to its gas infrastructure, the report said.

Eni and Repsol did not immediately reply to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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