“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 ...

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 ...

TASS/. Venezuela and Russia have reached an agreement to step up investment and participation of Russian companies in development of Orinoco Belt oil reserves and other projects, Venezuelan ...

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 ...

Cleaning or removing the pipes could take months, he said. “Damage caused by the blackouts at the Orinoco Belt oil fields is substantial,” Rangel said in an interview. Because of the blow to ...