Venezuela's earthquake left its oil fields running but threatens the budget its debt restructuring depends on, with damage near the size of the economy.

A 7.2-magnitude earthquake and a 7.5-magnitude were less than a minute apart, said the U.S. Geological Survey. The second earthquake was the largest to hit the country since 1900.

Both quakes measured over 7.0 magnitude, with tremors being felt as far as more than a thousand miles away in Brazil’s Amazon region.

US Geological Survey estimates 44 per cent chance fatalities could exceed 10,000