While Venezuela sits on the world's largest proven oil reserves, the country produces far less oil than the U.S. However, ...

Referred to as “black gold” and “the mother of all commodities”, crude oil is used for manufacturing everything from plastics to petroleum, cosmetics to cars, and fabrics to pharmaceuticals.

The physical and chemical differences between these crude types determine how easy they are to refine and their market value.

Most of the reserves in the country are extra-heavy oil that’s tough to extract and generates more greenhouse gases.

The global energy landscape is set to witness a historic turning point following the capture of Nicolas Maduro by the US ...

The Trump White House was full speed ahead this past week on reorienting Venezuelan oil exports in an an effort that could be ...

US President Donald Trump says now that Nicolas Maduro is gone, more US oil companies will enter Venezuela and spend billions ...

Most analysts think the world currently makes more oil than it needs — and the kind of oil abundant in Venezuela is a particularly hard-to-refine type of crude. So would U.S. companies even want it?

Venezuela has the largest oil reserves of any country on Earth. But the type of oil it has is difficult, and dirty, to process. Experts say ramping up production would be expensive, and dangerous for ...