The type of oil held by Venezuela makes it particularly lucrative for US refineries, analysts say.
Venezuela’s oil type is particularly lucrative for US refineries, according to analysts.
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The United States’ bid to control Venezuela’s oil sector after abducting Venezuelan President Nicolas Maduro has shone a spotlight on the type of crude held by the Latin American country.
Crude oil, which is produced by about 100 countries, comes in hundreds of varieties that differ by viscosity and sulfur content.
The US president believes that the ousting of Venezuelan head of state Nicolas Maduro paves the way for the return of American…
South American nation’s tar-like oil is what many Gulf coast facilities were built for but ramping up production to 3m barrels a…
In the 1990s, Venezuelan society became further split between the wealthy, who wanted to work with the US, and the working class,…
The US president wants American energy firms to start extracting the crude but they are reluctant.
We visualise the scale of the world’s largest oil reserves, worth trillions of dollars and now controlled by the US.
Venezuela holds the world’s largest proven oil reserves, more than five times more than the United States.
