Biggest oil reserves
on the planet? Venezuela starts certifying Orinoco
belt... |
By
Karl Heilman 11 Aug 2006 at 11:55 AM |
|
Venezuela on Thursday began certifying around 235 billion barrels of crude
reserves in the vast Orinoco Belt as part of an effort
Venezuela says will give it the planet's largest oil supply. Venezuela,
the world's No. 5 oil exporter, hopes the process will give a massive
boost to its reserves at a time when spiraling energy prices have left oil
companies scouring the globe for black gold.
"We are sure that we will incorporate 235 billion
barrels of oil to our booked reserves," Energy Minister Rafael Ramirez
said during a ceremony to celebrate the opening of the certification
campaign in eastern Venezuela.
"Thanks to this effort, Venezuela will become the
country with the largest reserves on the planet," he said.
Click here for RI coverage on
Venezuela. |
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