Venezuela received an enviable honour last month: OPEC said it is sitting on the biggest reserves of crude oil in the world – even more than Saudi Arabia. But the Venezuelan oil industry is also ...

“We have participated in projects across continents,” Quintero tells me, as he shows me a map of ... also vast reserves of “free” gas, which is not associated with oil. Venezuela has ...

(I explain here why Venezuela's reserves are overstated, but without a doubt, they are much larger than those of the U.S.) Yet U.S. oil production is just short of 10 million BPD — six times ...

Venezuela holds the largest oil reserves of any OPEC country outside the Middle East. Saudi Arabia has proven reserves of 260 billion barrels. Categories: Economy , Energy & Oil , Latin America .

Venezuela has the largest oil and gas reserves in the world, but produces hardly any of it. The decision to do so is up to the government. If it does nothing, Venezuela's oil might stay in the ...

Venezuela would be the biggest loser of all, of course. The country has the world's largest proven oil reserves - even bigger than Saudi Arabia - but it is rapidly running out of money to prospect ...