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.

President Trump said "we're going to get the oil flowing the way it should be" after the surprise U.S. attack. Here's what to know about Venezuela's oil sector.

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

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 ...

The best that the GREEN movement has come up with for energy is wind and solar, but those renewables only generate electricity but CANNOT make any of the PRODUCTS and TRANSPORTATION FUELS. Most insulting is that wind and solar are made with those products that come from processed crude oil!

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 ...

Oil futures gained as the market put aside prospects of increased Venezuelan crude supply and focused on a U.S. congressional bill that would allow for hefty sanctions against buyers of sanctioned Russian oil.