Venezuela's oil reserves may be overstated; Rystad Energy believes the best estimate is 60 billion barrels
Venezuela’s proven oil reserves are reportedly around 300 billion barrels (most of which are located in the Orinoco Heavy Oil Belt), accounting for nearly one-fifth of the world’s total. However, this figure may be exaggerated and is largely meaningless. There is a vast disparity between Venezuela’s potential production and actual output. The country’s daily oil production has plummeted from a peak of over 3 million barrels to less than 1 million barrels, and it has already depleted a significant portion of its reserves. Simply returning to historical production levels in the near future will require immense effort, with repairing dilapidated infrastructure and lifting sanctions being critical challenges. Data from consulting firm Wood Mackenzie indicates that the average breakeven price for new production in the Orinoco Heavy Oil Belt has exceeded $80 per barrel. Therefore, unless prices surge, the estimated reserves may remain purely theoretical. Rystad Energy believes that a more realistic estimate, even under ideal conditions, is likely around 60 billion barrels.
No AI analysis yet. Tap the "AI Analysis" button above to generate one now.
Source:富途快讯 · Source Link
Disclaimer: This content reflects only the author’s personal views and does not constitute any investment or financial advice. If you discover any content that violates regulations,Click to Report
24H Trending
-
1
SoftBank Group's record $6.45 billion retail bond sale on Thursday will boost its share of Japan's corporate retail bond market to nearly 50%
-
2
Ethereum founder Vitalik Buterin tweeted a comment on the ancient Chinese philosopher Mozi, calling his thought "proto d/acc."
-
3
New Zealand's sovereign wealth fund has achieved a 14.2% annual return, ranking first globally, but its CEO warns that high returns in US equities are unsustainable.
-
4
Lookonchain monitoring shows Garrett Jin, the largest on-chain ZEC short, is now down over $26M, holding a $51.5M short position with a liquidation price of $2,631.53.
-
5
Ethereum founder Vitalik Buterin: Qwen 3.8 Flash model's performance is impressive, local models are expected to handle a large number of tasks
-
6
AI boom tightens MLCC supply, giving Samsung Electro-Mechanics pricing power as it begins raising prices
-
7
Japanese chip material makers Resonac Holdings and Nitto Denko will invest in a US fund to seek cooperation in AI hardware.
-
8
Federal Judge Orders X and SpaceXAI to Disclose Secret Apple Agreement by Thursday in Musk's Antitrust Case
-
9
Posco International acquires US shale gas asset for $550 million
-
10
Samsung's Rainbow Robotics halts US robot shipments due to new American restrictions, plans to seek approval and US production
Markets Today
Recommended Reading


