Today, US aviation carried out airstrikes on Venezuela. The long-standing tension between the two countries reached the level of open military confrontation.
Modern.az presents an article about the natural resources possessed by Venezuela, which is strategically located in South America.
Venezuela ranks first in the world in terms of proven oil reserves.
According to 2021 data, the country's proven oil reserves amount to approximately 303.8 billion barrels. For comparison, this figure is estimated at 107.8 billion barrels in Russia and 101.5 billion barrels in Kuwait.
In addition, oil production in Venezuela is mainly carried out in four large basins: Maracaibo, Falcón, Apure, and Oriental. The latter three basins together form a zone called the “Orinoco Oil Belt (Orinoco Belt)”, stretching from east to west along the Orinoco plains in the central part of the country. This area primarily produces particularly heavy oil, the extraction and processing of which require unconventional technologies.
Since US refineries located on the shores of the Gulf of Mexico are specifically designed for processing heavy crude oil, this region is one of the main buyers of oil exported from the Orinoco zone. Alongside the US, the main export destinations for Venezuelan oil are considered to be South America, Europe, and the Caribbean basin (especially Cuba).
Furthermore, in 2021, Venezuela's proven natural gas reserves exceeded 5.6 trillion cubic meters. In the Western Hemisphere, only the US surpasses the country in this indicator. Approximately 90 percent of the natural gas produced in Venezuela is obtained from areas associated with oil fields.
At the same time, Venezuela's total iron ore reserves are estimated at 4.5 billion tons, of which 2 billion tons are proven reserves. In terms of iron reserves in the region, Venezuela is surpassed only by Brazil. The main iron ore deposits are located in Bolívar state. Among them, the Cerro Bolívar, San Isidro, María Luisa, and El Trueno deposits are of particular importance.
Venezuela is also one of the leading countries in the world in terms of bauxite reserves, which are used in aluminum production. The country's total bauxite reserves amount to 950 million tons, with proven reserves of 320 million tons.
It should be noted that while Venezuela's rich natural resource potential plays a strategic role in the country's economic development, the effective utilization of these opportunities is closely linked to international markets and technological capabilities.
