Help us to disseminate news On Venezuela

Russia's Putin may meet Venezuela's Maduro

Wednesday, July 12, 2017

Venezuela’s oil reserves kick into reverse

Venezuela’s claim of being home to the world’s largest oil reserves based on its massive Orinoco heavy oil belt has been the subject of industry skepticism for years. The South American producer estimates it has over 300 billion barrels of proven oil, a figure naysayers believe is grossly overstated as much of its huge bitumen resources are tricky, and hence too costly, to produce. Venezuela’s official reserves vs productionNow two years after the biggest oil price collapse in a generation, Venezuela’s world-beating oil reserve claims are not only looking increasingly shaky but the country’s current economic and political quagmire means its recoverable oil reserves are now firmly in retreat, according to an independent study. More…

No comments:

Post a Comment