Experts Question Validity of Venezuela’s 300 Billion Barrel Oil Claim Amid U.S. Deal
Experts dispute Venezuela’s claim of 303 billion barrels of proven oil reserves, estimating the actual figure is likely between 60 and 120 billion barrels. This discrepancy challenges the profitability of a recent U.S. deal claiming access to 65 billion barrels, with critics noting the reserves are largely undeveloped or depleted. The agreement, involving a Barbados-registered entity and Venezuelan oligarch Alejandro Betancourt, faces scrutiny over transparency, legal authority, and the feasibility of extracting heavy crude from the Orinoco Belt.