Total To Double Oil Output In Venezuela

French oil company Total will double its oil production in Venezuela to 400,000 bpd compared to 200,000 bpd, Venezuela?s President Hugo Chavez said yesterday.

Chavez met with France?s President Jacques Chirac; the presidents were discussing the possibility of investing several billion US dollars to boost production. French oil giant has been authorized to operate off Venezuela's Atlantic shore, where there are large gas reserves.

However, Venezuela will not cut US companies' oil production init as it wants to increase the total oil production, Chavez said.