How much oil venezuela have?

Question

How much oil venezuela have?

Answer 1

Venezuela is not drilling in the Gulf of Mexico.  Citgo may have some reserves there, but it is not Venezuelan national territory.

Answer 2

A lot.

Answer 3

They have the largest proven oil reserves outside of the middle east.

Their only problem is that it's heavy crude and it costs more to refine.

Oh and their president is a communist dictator.

Answer 4

they are drilling in the Gulf of Mexico off the coast of cuba..near US waters..so they may soon have a whole lot more

Answer 5

It depends on the Oil price, Venezuelan crude is very heavy (thick) and when the price is below (I think) $50 / barrel it is not economic to process all the crude and so some reserves are not worth exploiting. How ever at today's price they have more than Saudi Arabia

Answer 6

Venezuela is the fifth largest oil exporter in the world, so there is plenty of oil here.

Major areas of oil production are in Anzoátegui in Puerto La Cruz and surrounding areas.

There is a lot of oil, and the Venezuelan economy is booming since the oil system is nationalized.

Answer 7

Enough to p**s of George Bush and the Texan Oil companies...Did I mention for that reason alone I love Venezuela.... a place I have never been.... Venezuela you rock!!!