Orinoco Belt

The Orinoco Belt in Venezuela is the country's primary crude oil producing region, holding a significant portion of the world's largest oil reserves, estimated at around 300 billion barrels. These reserves are primarily extra-heavy oil, making extraction challenging and environmentally impactful due to higher greenhouse gas emissions. The Orinoco Belt is newsworthy due to recent political developments in Venezuela, including the abduction of its president and subsequent US involvement. The US government is brokering the sale of Venezuelan oil to stabilize the country's economy and restore oil production. This involvement marks a shift in US-Venezuelan relations. Historically, US companies developed Venezuelan oil fields until nationalization in the 1970s. The Orinoco Belt's oil is crucial to Venezuela's economy and is now a focal point in international relations and energy security.