Chavez claims Venezuela has more oil reserves than Saudia Arabia

Posted on January 16, 2011 • Filed under: Business, Economy, Oil, Venezuela

Venezuelan President Hugo Chavez said Saturday that the country’s oil reserves amount to 217,000 million barrels and is the first country in the world with more than Saudia “We’ve surpassed the 217,000 million barrels but has not completed the certification process,” said Chavez during the presentation of accounts on its management in 2010 before the new National Assembly was installed on 5 January. Read Article

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