Oil reserves in Venezuela

The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 300 billion barrels (4.8×10¹⁰ m³) as of 1 January 2014. The 2019 edition of the BP Statistical Review of World Energy reports the total proved reserves of 303.3 billion barrels for Venezuela (slightly more than Saudi Arabia's 297.7 billion barrels).

Venezuela's crude oil is very heavy by international standards, and as a result much of it must be processed by specialized domestic and international refineries.

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