Venezuela sits on more barrels of oil than Saudi Arabia. So why does it pump less than 1% of the global supply?

Venezuela has the world’s largest proven oil reserves, officially holding about 303 billion barrels, or roughly 17 per cent of global crude, mostly in.

British Oil and Gas giant Shell Plc. (NYSE:SHEL) needs an exploration breakthrough or a big merger after its oil reserves ...

A sculpture of a hand holding an oil drilling rig is pictured outside the state-run oil company Petroleos de Venezuela S.A. (PDVSA) in Caracas on February 26, 2025. (Photo by Pedro MATTEY / AFP) ...

President Donald Trump’s plans to restore Venezuela’s beleaguered oil industry faces a series of challenges that will cost U.S. oil companies many billions of dollars to overcome. Over the weekend, ...

By Shadia Nasralla and Stephanie Kelly LONDON, Feb 9 (Reuters) - Shell needs an acquisition or exploration breakthrough to ...