Venezuela's oil exports rose 15% to some 867,000 barrels per day in January, driven by an increase in shipments by U.S. major ...

“We can’t do it alone.” He said the US Geologic Survey found the Orinoco Belt has more than 500 billion barrels of recoverable crude. Repsol, Petroliam Nasional Bhd., Indian Oil Corp. and ...

Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much as previously thought. The geologists estimate the area could yield more than 500 billion ...

The drilling activities, initiated in mid-February, aim to exploit the heavy crude area of the Orinoco Belt, which is CVX's primary avenue for increasing production in Venezuela. Situated in the ...

Venezuela continues to claim the most reserves with 304 billion barrels, but this is primarily extra heavy crude in the Orinoco Belt. In order to qualify as proved reserves, oil needs to be ...