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Venezuela's oil and mining sectors: Large potential, weak infrastructure

Venezuela holds the worlds largest estimated oil reserves, about 17% of the global total, but production remains far below capacity due to years of mismanagement, low investment and sanctions. Most reserves are heavy crude in the Orinoco region, which is costly to produce. The country also has significant mineral resources, including gold, iron ore, bauxite and coal, though official data often blurs the line between reserves and resources, making the true scale unclear.

5 Jan 2026 6:11 am