US EditionThe World's Largest Oil Reserve Looks Good on Paper, but It's Not Necessarily Worth Extracting.
3 Articles
3 Articles
The Venezuelan reserves, officially estimated at over 300 billion barrels, would theoretically cover the entire world's consumption for almost a decade, but in practice it is not certain that all of it can be economically extracted.
We have been in Venezuela for a few days in 2026 and, still, we probably already have the news of the year: the capture of Nicolás Maduro at the hands of the United States. Since that happened, the Venezuelan dictator is in a prison in New York awaiting a trial, just like his second wife, Cilia Flores. Since the news went up, many have questioned Trump’s true claims with military intervention in Venezuela, and not a few have come to assert, with…
Venezuela has the largest proven oil reserves on the planet, with approximately 300 billion barrels of crude oil, according to the latest Statistical Yearbook of OPEC, a figure that represents about 17% of the world total and even exceeds Saudi Arabia, a traditional leader in this ranking. This leadership in reserves is no coincidence: it responds to a combination of unique geographical and geological factors that have allowed the generation and…
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