Venezuela’s Rich Oil and Mining Sectors: Stranded by Failing Infrastructure
Venezuela has the largest estimated oil reserves in the world, holding about 17% of global reserves, or 303 billion barrels. Despite this, its crude output is significantly low due to years of mismanagement, lack of investment, and sanctions. Venezuela’s oil is mostly heavy oil located in the Orinoco region, which is expensive to produce but [...]The post Venezuela’s Rich Oil and Mining Sectors: Stranded by Failing Infrastructure appeared first on Modern Diplomacy.
