Venezuela’s Oil Reserves Doomed To Become The World’s Largest Stranded Asset ...Middle East

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The aggressive push to decarbonize the world economy is forcing big oil to examine how the carbon emissions of its operations can be reduced with a goal of becoming carbon neutral. That coupled with the threat of peak oil demand has seen oil supermajors reevaluate their business strategy, with many now choosing to eschew high-cost carbon-intensive petroleum projects. This poses a major threat to Venezuela and the crisis-torn petrostate’s economic recovery. The OPEC member possesses the world’s largest oil reserves, estimated to be around…

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Venezuela’s Oil Reserves Doomed To Become The World’s Largest Stranded Asset ...Middle East

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