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Maroc Maroc - WN.COM - Business - 05/Jan 11:21

Factbox: Venezuela's oil and mining sectors

After the US captured the Venezuelan president and charged him with narco-terrorism offences, US president Donald Trump said oil companies will return to Venezuela and rebuild the country's petroleum industry. "They're going to spend billions of dollars and they're going to take the oil out of the ground," he added. Here is a look at the oil and mining sectors of Venezuela. Reserves Venezuela has the world's largest estimated oil reserves but its crude output remains at a fraction of capacity due to decades of mismanagement, lack of investment and sanctions, official data shows. Venezuela holds about 17% of global reserves or 303 billion barrels, ahead of Organization of the Petroleum...

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