Venezuela Oil Show: Venezuela is the world’s fifth largest oil exporter

The annual Venezuelan Oil Exhibition will be held from July 9 to 11 next year. This international exhibition is organized by.Hosted by the Venezuelan Ministry of Energy, the exhibition venue is located inMaracaibo International PavilionThe three-day exhibition will attract more than 40,000 visitors and over 560 exhibitors.

According to Southern Television, the Venezuelan government recently officially recognized it as the country with the largest oil reserves in the world. As of December 31, 2010, oil reserves reached 296.5 billion barrels, surpassing Saudi Arabia’s oil reserves by nearly 30 billion barrels. The statement emphasizes that Venezuela’s oil reserves surpass those of Saudi Arabia, which has become the second largest country in the world. Energy Minister and Chairman of the Petroleum Company Ramirez previously stated that oil reserves had increased by 86.4 billion barrels, mainly from traditional oil fields, offshore oil fields and the Orinoco Oil Belt.

Oil Fair in VenezuelaThe scope of the exhibitions mainly includesOil well, drilling, welding, oil tank equipment, lifting, lifting, insulation, refrigeration, ventilation, remote monitoring, repair, maintenance and other equipment;

Venezuela is now the world’s fifth largest oil exporter, producing 3 million barrels of crude oil per day. Venezuela has four major sedimentary basins: the Maracaibo Basin, the Falcon Basin, the Apure Basin, and the Oriental Basin. The API grade of the oil produced in these basins is less than 20 degrees, making conventional oil produced in Venezuela a heavy crude by international standards. With many oil fields in these basins maturing and reducing production, Venezuela’s state oil company PDVSA plans to invest $26 billion to increase production from existing oil wells between 2004 and 2009 and will develop new heavy oil fields. Crude oil and natural gas resources.

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