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The Maracaibo Basin, also known as Lake Maracaibo natural region, Lake Maracaibo depression or Lake Maracaibo Lowlands, is a foreland basin and one of the eight natural regions of Venezuela, found in the northwestern corner of Venezuela in South America. Covering over 36,657 square km, it is a hydrocarbon-rich region that has produced over 30 ...
Lake Maracaibo, which once was at the heart of Venezuela's oil boom, has turned into a polluted wasteland, according to environmentalists. The pollution of the lake, located about 600 kilometers ...
The Bolivar Coastal Fields (BCF), also known as the Bolivar Coastal Complex, is located on the eastern margin of Lake Maracaibo, Venezuela. [1] Bolivar Coastal Field is the largest oil field in South America with its 6,000-7,000 wells and forest of related derricks, stretches thirty-five miles along the north-east coast of Lake Maracaibo.
Environmental issues include sewage pollution into Valencia Lake, oil and urban pollution of Maracaibo Lake, deforestation, soil degradation, and urban and industrial pollution, especially along the Caribbean coast. [2] Current concerns also include irresponsible mining operations that endanger the rain-forest ecosystem and indigenous peoples. [2]
Lake Maracaibo is rich in oil and gas resources and is known as the "oil lake". [6] The first Spaniards who arrived used tar seeping from the lake to fill ship cracks. [ 11 ] The Maracaibo oil field was discovered in 1914, [ 15 ] the first oil well was constructed in 1917, and large-scale exploitation began in 1922. [ 6 ]
Venezuela's economy is suffering a long-running crisis, though the government has made strides on inflation control in the last year, bringing usually triple-digit 12-month figures down to about ...
An oil spill, which appeared to originate from Venezuela's El Palito refinery several days ago, has contaminated a bay off the country's north-central coast in the Caribbean Sea, five sources told ...
By 2009, Venezuela reported 211.17 billion barrels (3.3573 × 10 10 m 3) of conventional oil reserves, the largest of any country in South America. [6] When 2015 ended, Venezuela's confirmed oil reserves were estimated to be around 300.9 billion barrels in total. In 2008, it had net oil exports of 1.189 Mbbl/d (189,000 m 3 /d) to the United ...