Venezuela's proven crude oil reserves have increased by 30 percent to reach 130 billion barrels, the largest outside the Middle East, Minister of Energy and Petroleum Rafael Ramirez said Thursday.
He made the announcement while addressing a meeting of representatives from 12 South American countries on evaluating a regional energy plan which is expected to be signed by these countries' heads of state at the upcoming summit of the Union of South American Nations (Unasur) scheduled for May 23 in Brazil.
Ramirez also said Venezuela will ink an agreement with Argentina to provide the latter with liquefied gas as part of the South American Energy Security Treaty.
During the meeting, representatives of Argentina, Bolivia, Brazil, Colombia, Chile, Ecuador, Guyana, Uruguay, Surinam, Peru, Paraguay and Venezuela studied the "Characteristics of the South American Energy Action Plan" and the "Characteristics of the Energy Work in South America."
The energy subject forms a fundamental issue for Unasur, Ramirez said.
Unasur is a fledging bloc that unites two existing regional free trade groups -- the Common Market of the South and the Andean Community -- as part of a continuing process of South American integration.
Source:Xinhua
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