Petróleos de Venezuela, S.A. (PDVSA) is the Venezuelan state-owned petroleum company, the world's fifth largest oil exporter.
Venezuela has 77.5 billion barrels (1.232×1010 m3) of conventional oil reserves according to PDVSA figures, the largest in the Western Hemisphere and making up approximately half the total. This puts Venezuela as fifth in the world in proven reserves of conventional oil. By also including an estimated 235 billion barrels (3.74×1010 m3) of tar-like extra heavy crude oil in the Orinoco Belt region, Venezuela claims to hold the largest hydrocarbon reserves in the world. Venezuela also has 150 trillion cubic feet of natural gas reserves.
read more at http://en.wikipedia.org/wiki/Petr%C3%B3leos_de_Venezuela_S.A.
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