Posted on 30/06/07
VENEZUELAN OIL
1 IT'S ALL ABOUT THE BITUMEN, MANOil was first discovered in northwestern Venezuela in 1921 and, much like the Beverly Hillbillies, the country's ruling class was soon living large on black gold. Production from those original reserves is now declining, however, and the future of the Venezuelan oil industry is largely banked on the Orinoco oil belt and its massive reserves of heavy bitumen, the same type found in the Alberta oil sands.
The full text of this article has 916 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
