Venezuela oil reserves. Venezuela's oil industry is nationalized.
Venezuela oil reserves Revenues from the oil industry were crucial for the national economy. 5 billion barrels (1. The largest country in the world by oil reserves is Venezuela, boasting a total of 303,806,000,000 barrels. But m ost of Venezuela's proved oil reserves consists of extra-heavy crude oil in the Orinoco Belt. Then, they spent all their oil revenues on Socialist policies instead of investing in their oil industry. 439 USD bn from Dec 1950 to Nov 2024, with 822 observations Jul 25, 2024 · Venezuela accounts for the greatest share of global oil reserves. 497 USD bn for Oct 2024; Venezuela Gold Reserves data is updated monthly, averaging 3. In addition, the country has big deposits of coal, gold and other natural resources. 2 billion barrels. Find out the estimated recoverable reserves of the Orinoco Belt, the heavy crude deposits similar to Canada's oil sands. This positioned Venezuela ahead of Venezuela - Crude Oil Reserves (Million barrels) Date Crude Oil Reserves; 2021: 303,806. Chevron, Shell, Halliburton, etc would poach Venezuelan talent. Feb 3, 2024 · Venezuela has around 303. Despite this, production was only 0. [81] [82] The crisis intensified under the Maduro government, growing more severe as a result of low oil prices in early 2015, [8] and a drop in Venezuela's oil production from lack of maintenance and The Orinoco Oil Belt Assessment Unit (AU) of the La Luna−Quercual Total Petroleum System encompasses approximately 50,000 km2 of the East Venezuela Basin Province that is under-lain by more than 1 trillion barrels of heavy oil-in-place (fig. Feb 9, 2009 · Venezuela’s proven oil reserves are among the top ten in the world. The government in 2016 established a huge mining development zone stretching across the middle of Venezuela to diversify its revenue. However, the drop Venezuela: Oil reserves, billion barrels: The latest value from 2021 is 303. 8% of total global crude oil in 2023. That is a 17. 73 trillion barrels of oil reserves globally. The Carabobo oil field is majority owned by Venezuela's national oil company, Petroleos de Venezuela SA (PDVSA). Foreign Exchange Reserves in Venezuela averaged 12097. However Jan 17, 2023 · Plans to exploit Venezuela’s considerable oil wealth are further complicated by around three-quarters of the country’s reserves being predominantly comprised of very sour extra-heavy petroleum Apr 19, 2017 · How Venezuela can be oil rich, but cash poor. Saudi Arabia's oil reserves include NGLs from 2017. Venezuela has the largest proven oil reserves in the world, estimated by the US Energy Information Administration at around 303 billion barrels. Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of proven reserves. Venezuela’s economy has relied on earnings from the petroleum sector to modernize and diversify Gold Reserves in Venezuela remained unchanged at 161. Venezuela is a founding member of OPEC and one of the world’s top oil producers. Apr 24, 2023 · Which country has the most oil reserves in the world? Venezuela is currently the country with the largest proven oil reserves in the world, with an estimated 300 billion barrels of oil. An estimated 90% of Venezuela’s natural gas reserves are associated, meaning they are located in the same place as oil reserves. On the contrary, oil is still a major commodity in high demand and Venezuela is the country with the largest proven oil reserves. It holds some of the largest proven reserves of petroleum and natural gas, although its production of crude oil has dropped in recent years, largely due to mismanagement by the Venezuelan government. Eventually all their old equipment broke down and oil production fell. Venezuela’s 304 billion barrels of proved reserves just Dec 14, 2023 · In 2021, Venezuela had a crude oil refining capacity of approximately 2. As of 2023, it had proved reserves amounting to more than 303 billion barrels. Venezuela's oil industry is nationalized. One of the main reasons for this disparity is the accessibility of each country's oil reserves. 8% of the global total, dropping to 742,000 barrels per day, a 70% decline from 2013. 1 Exploration and production • Venezuela’s crude oil production has declined rapidly to historically low levels. PDVSA was staffed mainly by highly qualified Venezuelans. Venezuela has the world's largest proven oil reserves, totaling 302. There are nearly 390 billion barrels of oil reserves in a small area . 232 × 10 10 m 3) of conventional oil reserves according to PDVSA figures, the largest in the Western Hemisphere and making up approximately half the total. Although Venezuela has the most oil reserves in the world, most of its oil is offshore or far underground and is considered to be dense. Then Dec 27, 2023 · According to the Organization of the Petroleum Exporting Countries (OPEC), Venezuela's proven oil reserves are estimated to be around 303. 3 billion barrels for Venezuela (slightly more than Saudi Arabia's 297. 50 USD Million in September of 1962. 7 billion barrels). Jan 7, 2019 · Most of Venezuela’s proved oil reserves are heavy crude oil deposits located in its Orinoco Oil Belt (OOB) in central Venezuela, making Venezuela’s crude oil somewhat expensive to produce, but relatively technically simple. Venezuela (303. As part of a program directed at estimating the technically recoverable oil Aug 30, 2003 · Perhaps the most important thing to know about Venezuela is that it is an oil exporting country, the fifth largest in the world, with the largest reserves of conventional oil (light and heavy crude) in the western hemisphere and the largest reserves of non-conventional oil (extra-heavy crude) in the world. 22 billion barrels of oil reserves, the most of any country in the world. As a result of this decline in oil operations, the country with the biggest oil reserves is ironically experiencing intense periods of fuel shortages Oct 23, 2023 · Venezuela’s crude oil production has fallen from about 3. Venezuela has 80% of Latin America's proven reserves. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to Petróleos de Venezuela S. 2 million b/d in 2000 to 735,000 b/d in September 2023, making it the 10th-largest producer in OPEC despite its significant oil reserves. An oil well in the Maracaibo basin of western Venezuela begins gushing 100,000 barrels of oil per day, indicating the massive reserves beneath the nation’s surface. But Venezuela has the world’s biggest proven oil reserves, according to OPEC data. Venezuela’s oil production – which was already down 50% after years of underinvestment – plummeted further. [3] These reserves were apparently the largest in the world until Venezuela announced they had increased their proven reserves to 297 Gbbl in January 2011. From the late 1940s to 1970 the country was the world’s largest petroleum exporter, and it was long one of the principal exporters of oil to the United States. Nov 30, 2020 · Venezuela has the largest proved oil reserves in the world, but its crude oil production and exports have declined sharply due to sanctions, lack of investment, and power outages. Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. Spread over 19,000 square miles, OOB is divided into 36 blocks within 4 exploration areas: Boyaca, Jun 20, 2024 · Canadian oil sands 'under active development' are an official estimate. Shares of total and R/P ratios are calculated using thousand million barrels figures. By 2014, Venezuela had entered an economic recession [80] and by 2016, the country had an inflation rate of 800%, the highest in its history. S. Jan 29, 2019 · Venezuela has the largest proved oil reserves in the world. 3 million b/d in 2001 to about 510,000 b/d in 2018. 31 percent of all known oil reserves were found in the South American country. One of the founding members of the Organization of the Petroleum Exporting Countries (OPEC), the South American country holds the Feb 8, 2024 · Venezuela had the world’s largest proven crude oil reserves in 2023 with approximately 303 billion barrels (Figure 5), accounting for approximately 17% of global reserves (Figure 6). Venezuela takes step towards Jul 25, 2024 · Venezuela has the largest oil reserves worldwide. After decades of development, the wells of the Maracaibo region, which produce a medium grade crude, are declining in importance. 74 × 10 10 m 3) which would make it the largest petroleum reserve in the world, slightly ahead of the similar unconventional oil source in the Athabasca oil sands, and above Saudi Arabia. e. There are 43 national parks in Venezuela, making up 15 per cent of the country’s land mass. Oil Jan 7, 2025 · The Future of Venezuela’s Oil Reserves. It has been managing to evade US sanctions successfully. In 2005, Venezuela produced 162 million tons of oil, which is 4. 24 A portion of this natural gas (about 30%) is reinjected into oil fields to increase crude oil production. Energy Information Administration. Following Chavez’s announcement of the Socialist Gas Revolution in 2009, the Energy and Petroleum Ministry announced plans to increase natural gas production to roughly 14 billion cubic feet per day (Bcf/d) and to Jul 25, 2019 · As stated earlier, Venezuela is a major player in the petroleum and natural gas sector. Key information about Venezuela Gold Reserves. Apr 17, 2024 · Venezuela has the world’s biggest oil reserves, as well as abundant natural gas. It also has enormous debt, and its creditors’ scramble to get paid is a major factor in the worldwide Discovered in 1979, Venezuela's Orinoco tar sands hold an estimated 2. 0: 2019: 302,809. The size of these reserves does not immediately translate into the potential for revenue, however. According to OPEC's 2015 figures, Venezuela has the most proven crude oil reserves in the world, with over 300 billion barrels. 1. crude oil imports from Venezuela similarly declined, falling from 1. This article will Jul 20, 2023 · Venezuela’s official oil reserves exceeded 300 billion barrels at the end of 2019. Apr 16, 2018 · Oil Reserves and Production. Feb 8, 2024 · Venezuela’s natural gas reserves are still underutilized, and a large portion of the country’s current natural gas output is used to supplement the output of mature oil fields rather than sold to generate revenue. Dec 13, 2018 · Venezuela sits on the world’s largest oil reserves, but it is not even one of the top 10 global oil producers. The total estimated amount of oil in an oil reservoir An estimated 90% of Venezuela’s natural gas reserves are associated, meaning they are located in the same place as oil reserves. 8 billion barrels, representing a significant portion of 2 days ago · Venezuela - Oil, Agriculture, Manufacturing: The Venezuelan economy is based primarily on the production and exploitation of petroleum. Oil generates about 80 percent of the country’s total export revenue, contributes about half of the central government’s Venezuela used to be the wealthiest country in South America. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic. Oct 2, 2024 · Venezuela possesses the world’s largest oil reserves, but those are not the country’s only underground riches. Nov 4, 2020 · Top ten countries with the largest oil reserves in 2019 1. 81 billion barrels in 2020. com/logicDid you know that Venezuela has the world’s largest oil reserves? But unlike Saudi Arabia a. Despite the sizeable reserves, Venezuela produced 0. That figure dropped to just 534,000 in October, according to Reuters List of world countries by proven Oil Reserves in million cubic feet (MMcf), and per capita. Reserves and R/P ratio for Canada includes Canadian oil sands. By the time Donald Trump intensified sanctions against Venezuela when he took office in 2017, the country's oil industry was already on its knees, though they have certainly made things even more difficult. [151] The country is a major producer of petroleum products, which remain the keystone of the Venezuelan economy. One possibility for the future is the involvement of foreign companies. A. Oil and gas have also been proven offshore. This fact is of immense Jun 1, 2024 · This study suggests that the collapse of the Venezuela’s oil industry is neither caused by the contraction of the global economy nor by the decline of the Venezuelan oil reserves. 0: 2020: 302,809. The Orinoco contains an estimated 1. It is no wonder it remains firmly in the crosshairs of global powers. Reserves and R/P ratio for Venezuela includes the Orinoco Belt. 0 The following are the top 10 countries with the most oil reserves. U. Venezuela is one of the founding countries of the Organization of Petroleum Exporting Countries (OPEC), which was Jul 25, 2024 · Venezuela, Saudi Arabia, and Canada are the three leading countries with the most oil reserves. Jun 8, 2022 · Otherwise, the bulk of Venezuela’s huge oil reserves take the form of viscous bitumen in oil sands found across a river plain further inland. May 26, 2023 · EL CALLAO, Venezuela (AP) — Venezuela is known to have the world’s largest oil reserves, but its soil holds another valuable resource: gold. However, by allowing Venezuela to send oil directly, instead of going through shady middlemen who charge a hefty fee, Maduro’s government was Chávez saw the collapse in oil prices as a natural consequence of the oil glut created by an ill-conceived—and, in the Venezuelan case, illegal— opening up of large oil reserves to foreign investment, a policy that had been designed by the oil majors and large oil-consuming nations, lobbied May 9, 2019 · 1922: Oil Is Discovered. 08 USD Million from 1962 until 2024, reaching an all time high of 43127. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Jun 11, 2024 · According to OPEC, Venezuela has 303 billion barrels of oil reserves, followed by Saudi Arabia and Iran. Venezuelan petroleum is heavier—i. [1] The 2019 edition of the BP Statistical Review of World Energy reports the total proved reserves of 303. Jan 19, 2022 · Venezuela blames US sanctions for its difficulties, but those punitive measures only began in 2014 -- long after the rot had set in. Feb 25, 2023 · According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. I believe some American oil companies have already begun leasing some of the oil fields in the country. Nov 30, 2020 · • In January 2020, Venezuela had 303 billion barrels of proved oil reserves, the largest in the world. Venezuelan Universities had top notch oil programs and in Venezuela graduating as an Oil Engineer and landing a job at PDVSA was seen as having made it. However, they ended up nationalizing the oil companies which obviously drove all foreign companies out. See the top 10 countries with the most oil reserves and how they use them for their economies. This puts it ahead of Saudi Arabia , which has Sep 23, 2024 · The impact of these secondary sanctions was immediate. May 8, 2017 · This oil is expensive to produce, but after oil prices climbed to $100/bbl, 235 billion barrels of this heavy oil were moved into the "proved reserves" category. The move came shortly after the country’s autocratic leader, President Nicolás Maduro, agreed to a deal with the opposition to hold internationally moderated free and fair elections next year. The oil at Orinoco likely promises controversy as well, because controversy and oil so often go hand in hand. Venezuela has been producing oil commercially for over a century, and today the country possesses roughly 300 billion barrels of proven oil reserves—the largest in the world. May 22, 2023 · Venezuela has the largest oil and gas reserves in the world, but produces hardly any of it. But its oil output, once Latin America's largest, has fallen faster in the past year than Iraq's after May 26, 2024 · Even with US sanctions, Venezuela continues to export an estimated 600,000-650,000 barrels a day (b/d). Aug 12, 2021 · Most of Venezuela’s petroleum reserves, as much as 77% or possibly more, are composed of the extra-heavy and heavy crude oil found in the Orinoco Belt in the East Venezuela Basin. Learn about Venezuela's energy sector, consumption, and challenges from the U. Venezuela has proven reserves equivalent to 1,374. The nearly 200 billion barrels of proven oil reserves identified between 2005 and 2015, pushed Venezuela from fifth in the world to number one. Learn about the history, growth, collapse and comparison of Venezuela's oil reserves, the largest in the world. 22 Tonnes in the fourth quarter of 2023. 2 times its annual consumption . Venezuela also has the world's largest proven oil reserves and a scaling back of US sanctions on Venezuela's oil industry would benefit both countries economically. Mar 1, 2023 · ETHAN: Venezuela is home to the Orinoco belt, which holds some of the world’s largest reserves of petroleum, as compared to some of the other oil producing countries in the world. Industry leader BP estimates that there are 1. You must know that Venezuela itself has a very small land area, with a national area of only 916,400 square kilometers. This accounts for approximately 18% of the world’s total oil reserves. Saudi Arabia possesses 267. PDVSA Gas, Isla de Margarita As of 2003, Venezuela had 77. 9 However, Venezuela’s oil production has undergone wild swings over the latter half of the twentieth century, shifting from record As one of the world's largest accumulations of recoverable oil, the recent discoveries in the Orinoco Belt have led to Venezuela holding the world's largest recoverable reserves in the world, surpassing Saudi Arabia in July 2010. The country faces challenges in refining, trading, and meeting domestic demand for petroleum products. 81 billion barrels at the end of 2017. Oct 19, 2023 · All told, Venezuela has the potential to be the oil powerhouse of the world, with more than 303 billion barrels of proven oil reserves, while the recoverable barrels from the Orinoco Oil Belt are estimated at another 500 billion barrels. Government Crude Oil Proven Reserves Definition: Oil reserves are the amount of technically and economically recoverable oil. 158 USD bn in Nov 2024; This records a decrease from the previous number of 4. Venezuela has been an oil producer since 1914 when the first commercial oil well, Zumaque I, was drilled in the Mene Grande field on the eastern shores of Lake Maracaibo. Below data covers 2023 Jan 31, 2024 · There are also vast reserves of “free” gas, which is not associated with oil. 8 billion barrels. Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil. [1] This makes up 17. A map of world oil reserves according to OPEC, 2013 Oil production in Venezuela (red) fell markedly between 2015 and 2020. silomarkets. , denser—than the light Dec 17, 2024 · Despite holding the largest proved oil reserves in the world, Venezuela’s oil production has declined notably. Apr 18, 2024 · Experts say that’s not nearly enough time to attract the major capital investments required to revive long stagnant production in Venezuela, which sits atop the world’s largest proven oil reserves. Venezuelan Orinoco Belt reserves are based on the OPEC Secretariat and government announcements. From natural gas to gold, from bauxite to coltan, the Caribbean nation has no shortage of natural resources. Headline oil production fell from 1,500 thousand barrels per day (kbpd) before primary sanctions to a low of 337 kbpd in June 2020 after secondary sanctions. Energy companies have taken advantage of the sanctions relief to flock to Caracas over the past six months Bank liquid reserves to bank assets ratio (%) Bank nonperforming loans to total gross loans (%) Account ownership at a financial institution or with a mobile-money-service provider, richest 60% (% of population ages 15+) It remains to be seen how Venezuela will utilize the largest oil reserve in the world. 8 × 10 10 m 3) as of 1 January 2014. Feb 8, 2024 · Venezuela has the world's largest proven crude oil reserves, but its production and exports are limited by sanctions, infrastructure, and economic crisis. The country’s petroleum industry is a major consumer of natural gas production, and the reinjected volumes are primarily used for natural gas reinjection to increase crude oil extraction. 00 USD Million in December of 2008 and a record low of 514. The government must address several key issues, including corruption, infrastructure decay, and political instability, to revitalize the oil sector. May 17, 2019 · Venezuela’s oil riches—and woes Venezuela holds the largest oil reserves in the world. 1) (Fiorillo, 1987). 5% of the world's global reserves. It is indeed a bit unexpected. 3. To put it into context, Venezuela’s oil reserves easily trump the combined deposits of the United States, Mexico, and Canada. 09 billion barrels, based on data from 187 countries. Oct 7, 2020 · Venezuela’s oil reserves, the world’s largest, transformed the country and the global energy market. Jan 1, 2022 · Due to the size of the oil reserves, the oil sector in Venezuela has been critical to the country’s economy and to national and subnational development since the discovery of the reserves in Venezuela. Reserves may be for a well, for a reservoir, for a field, for a nation, or for the world. Nov 18, 2020 · Chronic mismanagement of the national oil industry and draconian U. Feb 6, 2020 · Today, even though Venezuela still sits on the world’s largest reserves of oil, the country’s oil refineries are running at less and a quarter of their operating capacity (Kassai et al, 2018). has estimated that the producible reserves of the Orinoco Belt are up to 235 billion barrels (3. Oct 25, 2023 · The United States recently announced a broad easing of oil sanctions against Venezuela, which is home to the largest petroleum reserves in the world. sanctions on exports have slashed Venezuela’s crude production to 359,000 barrels per day in the third quarter of this year, just over a tenth of the level achieved in the early 2000s. Oil became the principal source of public revenue and thus critical for public spending and development programs as well as the main source to Foreign Exchange Reserves in Venezuela decreased to 10182 USD Million in December from 10415 USD Million in November of 2024. [2] Venezuela and Saudi Arabia have populations of comparable size; however, Saudi Arabia’s economy is twice as large. The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 300 billion barrels (4. The majority of this amount was held within the Orinoco Belt rock Dec 26, 2024 · Many people are surprised to see this title, especially Venezuela's oil reserves rank first in the world. Since 2010, Venezuela has the world’s largest oil deposits at around 298 million barrels. The future of Venezuela’s oil reserves remains uncertain. In 2023, it averaged around 850,000 barrels per day, a third of the level Sep 12, 2022 · Lock In 7% With Government Bonds:https://www. Socialist, resource-nationalist policies implemented by former President Hugo Chavez – and continued by President Nicolas Maduro – are behind the country’s poor performance. Now its oil sector is grinding to a halt. 87 billion barrels, was reached in 1980 while the Feb 2, 2024 · In 2021, crude oil reserves in Venezuela reached close to 304 billion barrels, more than triple the figure reported at the beginning of the previous decade. Nov 13, 2024 · Crude oil reserves in Venezuela amounted to nearly 303 billion barrels in 2023. If it does nothing, Venezuela's oil might stay in the In 2023, Venezuela held the world's largest proven oil reserves at 303 billion barrels, accounting for 17% of global reserves, mostly extra-heavy crude from the Orinoco Belt. Aug 22, 2019 · Venezuela has the world's largest proven oil reserves. Venezuela has the largest proven reserves of oil in the world, with 303. 13 Most of this consists of extra-heavy oil in the Orinoco Oil Belt, 14 which needs additional infrastructure and specialized refineries to exploit. However, the very existence of these tar sands promises an extension of extra time before the world has to figure out how to cope without oil. 19 billion barrels of oil, the second-largest oil reserves in the world. In addition to being the undisputed leader in Latin America, the country also boasted the largest crude oil reserves Nov 3, 2022 · Venezuela is home to the world's largest proven oil reserves and used to produce nearly 3 million barrels of oil per day. The most obvious way America benefits from a closer relationship to Venezuela is by getting access to their vast oil reserves -- the largest in the world. 0: 2018: 302,250. Aug 6, 2024 · In 2022, Venezuela's proven crude oil reserves amounted to 303. This is not true. The minimum value, 17. Jan 10, 2025 · Venezuela had everything to be a titan in the global oil industry. 29 billion barrels. 5% share of the entire global resource, and in 2011 the country surpassed Saudi Arabia to top worldwide list. In 2019, Venezuela’s average crude oil production (including condensates) was 877,000 barrels per day Aug 20, 2021 · Most of Venezuela’s petroleum reserves, as much as 77% or possibly more, are composed of the extra-heavy and heavy crude oil found in the Orinoco Belt in the East Venezuela Basin. That puts it ahead Apr 8, 2014 · With the late 20th century discovery of the bitumen deposits of the Orinoco Petroleum Belt, Venezuela is home to two major oil producing regions and more than 200 billion barrels of proven oil reserves. 22 Tonnes in the first quarter of 2024 from 161. Venezuela was a founding member of OPEC and has some of the largest oil reserves in the world, but corruption, mismanagement, lack of investment, obsolescent machinery, and lack of qualified personnel have squandered Venezuela's resources and greatly diminished the country's power in the marketplace. Historically, the average for Venezuela from 1980 to 2021 is 118. This page provides the latest reported value for - Venezuela Gold Reserves - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. As of 2023, 19. [4] The Saudi reserves are about one-fifth of the world's total conventional oil reserves. Jun 7, 2021 · However, in 2011, Venezuela’s energy and oil ministry announced an unprecedented increase in proven oil reserves as oil sands in the Orinoco Belt territory were certified. Amuay was the largest refinery unit in the South American country, with a capacity of 645 Jan 25, 2023 · What is Venezuela’s oil potential? Venezuela has the world’s largest proven oil reserves, with an estimated 304 billion barrels available for extraction. Saudi Arabia’s oil reserves include NGLs from 2017. 1% of world's total production. 3 million barrels per day. 81 billion barrels) Venezuela has far more proven oil reserves than any other country globally, even though its economy is in free fall and the middle of an explosive political crisis. The decision to do so is up to the government. Feb 8, 2024 · Energy Information Administration - EIA - Official Energy Statistics from the U. Venezuela – 304 billion barrels. The oil reserves are predominantly found in the Eastern Province. 81 billion barrels, an increase from 302. Oct 12, 2021 · The Decline of an Oil Powerhouse. “It also has very low costs, compared to global prices Venezuela holds 299,953,000,000 barrels of proven oil reserves as of 2016, ranking 1st in the world and accounting for about 18. 2% of the world's total oil reserves of 1,650,585,140,000 barrels. 26 trillion barrels of oil but development remains in an early stage due to the country's political turmoil, insufficient infrastructure, and insufficient foreign investment. Venezuela has been producing oil for nearly a century and was an OPEC founder-member. The state oil company PDVSA (Petrleos de Venezuela) is one of the largest in the world. Different classifications of reserves are related to their degree of certainty. In comparison, the world average is 9. Venezuela Gold Reserves was reported at 4. oaxbnq xlbva jinyfb sfbjzq bwqbop yskeht wyzbh qebc yslo alef