Venezuela to maintain oil industry framework under Maduro

Rafael Ramirez said that Venezuela would continue to push for a minimum price of $100 per barrel at the next OPEC meeting, and that he did not expect Chavez's death to push up crude prices.

"The tax and legal framework were set out clearly by President Chavez," the oil minister said outside the National Assembly, where Maduro was being inaugurated as acting leader on Friday ahead of a new presidential election due in weeks.

"While our government is here and the people remain in charge, our oil policy will remain unchanged."

Ramirez said he expected the South American country to increase its oil output by 500,000 barrels per day (bpd) this year, bringing its total production to 3.5 million bpd.

The government says it is pumping 3.0 million bpd, but many industry experts question those figures. Analysts say Venezuela produced just 2.34 million bpd last month.

Ramirez said state oil company PDVSA invested $22 billion in 2012, and expected to invest $25 billion this year.

He said foreign energy companies working with PDVSA in Venezuela sent condolences following Chavez's death after a two-year battle with cancer, but had expressed no concerns about the political situation in the country with the world's biggest oil reserves.

"Everything is normal in the oil industry. We're guaranteeing fuel supplies," Ramirez said. "We will keep our

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