Venezuela's Oil Reserves and Pipeline Plans

Conservative leader Pierre Poilievre urged Ottawa to approve coastal pipeline within 60 days of submission on January 6, 2026.
Venezuela holds 303 billion barrels of crude oil, but sector is in disrepair due to neglect and sanctions, output could double/triple with investment.
Liberals and Alberta signed memorandum in November committing to coastal pipeline with private financing and Indigenous co-ownership, Alberta expects application by July 1.
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