Venezuela’s Orinoco Belt already holds the largest oil reserves outside of the Middle East. But now, the US Geological Survey (USGS) estimates that the Orinoco Belt’s reserves could produce double the amount of “recoverable” oil than originally thought. A Venezuelan oil geologist was doubtful about the USGS findings. While the USGS estimates of recovery are at about forty percent, the Venezuelan estimates are around twenty-five percent. For more see the BBC.
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