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Agreements signal new push into Venezuela's Orinoco Basin oil reserves

Reported · Written up by our desk · Energy

OilPrice reports that Venezuela’s Orinoco Basin, long discussed in terms of resources, is drawing renewed attention for crude output, with the country described as holding the world’s largest crude oil reserves at 303 billion barrels.

The outlet says that the latest agreements in this push include two firms signing deals related to Venezuela’s oil, with Halliburton named as one of the companies.

OilPrice also notes that Washington is positioning Venezuela as a strategic partner in the context of the country’s oil sector, describing the renewed interest as part of a broader effort.

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