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$17 trillion in oil, billions in gas, gold and Iron Ore — Here's how rich Venezuela is

Published on 05/01/2026 09:13 AM

Apart from Oil and Gas, Venezuela also owns 4 billion tonnes of Iron Ore Reserves, which is the 12th largest in the world, according to reports. At the current price, the iron ore reserves are valued at over $400 billion.The US on Saturday attacked the Venezuelan capital of Caracas and captured President Nicolas Maduro and his wife, flying them out of the country for a trial in the US on account of various charges.Maduro's arrest has put the spotlight on Venezuela's infrastructure of natural resources. Its not just oil. The country has abundant reserves of Gold, Natural Gas, iron Ore, and other elements as well, including rare earths, which the US now claims to have control over, particularly over the oil infrastructure.Venezuela has the largest proven hydrocarbon reserves in the world. As per reports, the Latin American country has 303 billion barrels of oil reserves alone.This mammoth oil reserve, the largest in the world, is valued at an estimated $17 trillion at current market prices.However, despite this, due to sanctions, especially those imposed by the United States on the Chavismo regime, Venezuela's current production accounts for only 1% of the total global output.Along with crude, Venezuela's energy arsenal also includes natural gas, as reports also say, the country has natural gas reserves of around 200 Trillion Cubic Feet. At the current price, natural gas reserves are valued at over $800 billion.In addition to hydrocarbons, non-renewable resources, and gold, Venezuela also has significant reserves of Gold, Rare Earth Minerals, which are crucial in today's day and age.Furthermore, the country owns 4 billion tonnes of Iron Ore Reserves, which is the 12th largest in the world, according to reports. At the current price, the iron ore reserves are valued at over $400 billion.Along with base metals, Venezuela currently holds 161 Metric Tonnes of Gold Reserves worth $22 billion as well.It is to be noted that every $100 gain in prices increases the value of these holdings by $500 million. There are also untapped coal, nickel, copper and phosphate reserves in Venezuela, which would be under the radar of the Trump Administration that said it would effectively 'run' the country.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.