Venezuela sits on 303 billion barrels of oil—more than Saudi Arabia. So why does it pump less than 1% of global supply? The answer involves nationalizations, sanctions and crude that's harder to extract than most.

U.S. action in Venezuela has renewed focus on the country’s vast oil reserves, heavy crude challenges, and the expropriations that reshaped the country's oil industry.

US President Donald Trump says now that Nicolas Maduro is gone, more US oil companies will enter Venezuela and spend billions revitalizing its oil industry. Several key questions have to be answered.

Senator Solomon Adeola (Ogun West) has assured extraction of crude oil will also begin at Tongeji Island, located in Ipokia Local Government Area of Ogun State. Adeola, who spoke on Tuesday in Otta at a Town Hall Meeting, Mega Empowerment and Thank You ...

Following are key facts about the oil and mining sectors of Venezuela, whose President Nicolas Maduro was captured by U.S. forces on Saturday.

Fossil fuel companies are experimenting with using carbon dioxide captured from the air in oil extraction to usher in a new era of planet-friendly “net-zero oil” – but the idea is an illusion, according to researchers. In enhanced oil recovery (EOR ...

At-a-Glance: After separation and stabilization, crude oil is stored in engineered tanks (onshore tank batteries, terminals, or offshore FPSO/FSO tanks) and moved via pipeline, marine tankers/barges, rail, or truck. Custody transfer is metered (LACT) to ...

Chevron is the only American major currently operating in Venezuela. Conoco has been seeking billions for the takeover of three oil projects nearly two decades ago, while Exxon was also involved in lengthy arbitration cases against Venezuela after it exited the country nearly two decades ago.

In the United States, crude oil extraction in the Midland and Delaware Basins seeks to increase efficiency with fewer drilling rigs by increasing production volumes. The company's EBITDA margin of 58.80% is extremely interesting. Furthermore, the leveraged ...

Venezuela’s oil reserves, the largest in the world, are also among the dirtiest, writes Chelsea Harvey. The South American crude is unusually heavy and requires an energy-intensive extraction process with relatively high levels of pollution as a result.