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 ...

Venezuela's oil exports slumped by nearly 20% in April, reaching their lowest level in nine months, following PDVSA's ...

With nearly 320 billion barrels of recoverable oil, Venezuela will become the world's largest holder of petroleum reserves. The Faja's crude is what producers call extra-heavy. Oil from this tar ...

Donald Trump's return to the presidency in 2025 brought a decisive end to U.S. oil concessions granted to Venezuela under Joe ...

Venezuela's president Hugo Chavez announced that his country's oil reserves total 217 barrels, topping Saudi Arabia's and making them the largest in the world. “We have exceeded 217 billion ...

In a bold move to enhance its global standing, Venezuela has proposed leveraging its vast oil reserves to gain membership in the BRICS group, comprising Brazil, Russia, India, China, and South Africa.

Venezuela’s economy, however, has not. Venezuela has the world’s largest proven oil reserves; the commodity is responsible for nearly all of the country’s export revenue and half of its ...

The U.S. has a distinct advantage to leverage through its access to Venezuela’s vast oil reserves. Maintaining that access will lower energy costs here at home and prevent Communist China from ...

Global oil markets face a potential deficit as exploration struggles to replace consumed reserves and US shale production is ...

Reduced to a marginal oil producer over the past decade, Venezuela has suffered another blow as United States president Donald Trump ordered punitive measures to blockade and further restrict the ...

“Venezuela will create a cryptocurrency,” backed by oil, gas, gold and diamond reserves, Maduro said in his regular Sunday televised broadcast, a five-hour showcase of Christmas songs and dancing. The ...