Which country has the largest oil reserves in south america?

Still, proven U.S. oil reserves are but a fraction of the reserves of the global petroleum leaders such as Venezuela, Saudi Arabia and Canada. 9. Libya - 48,363 million barrels. Libya has the largest oil reserves in Africa, and the ninth largest globally. read more

"Previously an underdeveloped exporter of agricultural commodities such as coffee and cocoa, oil quickly came to dominate exports and government revenues. read more

Top 10 Countries With The World’s Biggest Oil Reserves South American nation Venezuela tops the list, followed closely by Saudi Arabia. Brent crude oil spot price is expected to fall from an average of $112 per barrel in 2012 to annual averages of $108 per barrel in 2013 and $101 per barrel in 2014, according to report released by US-based Energy Information Administration (EIA) last week. read more

A 2008 United States Geological Survey estimates that areas north of the Arctic Circle have 90 billion barrels (1.4×1010 m3) of undiscovered, technically recoverable oil and 44 billion barrels (7.0×109 m3) of natural gas liquids in 25 geologically defined areas thought to have potential for petroleum. read more

Brazil recently made large undersea oil discoveries in the waters off its Atlantic coast, like the Tupí oilfield in 2007 with possible reserves of 33 billion barrels, and the Jupiter oilfield in 2008, with 12 billion barrels, raising the country’s share to five percent of Latin America’s reserves. read more