Venezuela

Since the discovery of oil in the early 20th century, Venezuela has been one of the world's leading exporters of oil, and it is a founder member of OPEC. Previously an underdeveloped exporter of agricultural commodities such as coffee and cocoa, oil quickly came to dominate exports and government revenues. Venezuela has some of the largest oil and natural gas reserves in the world, and consistently ranks among the top ten crude oil producers in the world. Compared to the preceding year another 40.4 percent in crude oil reserves were proven in 2010, allowing Venezuela to surpass Saudi Arabia as the country with the larges reserves of this type.

Latest News

Exxon wins less than expected from Venezuela dispute
Monday, January 02, 2012
Repsol provides update on development of super-giant perla field in Venezuela
Monday, December 26, 2011
Rosneft takes an important step in expanding into the strategic market of Venezuela
Friday, December 09, 2011
Rosneft to Pay $2.2 Billion For Carabobo 2 Block
Tuesday, November 29, 2011
PetroMagdalena Announces 86% Increase in 2P Reserves at Cubiro
Thursday, October 27, 2011
Venezuela To Hold No Negotiations With Exxon Outside International Arbitration
Thursday, September 22, 2011

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