Venezuela's Key Mineral Resources: Oil and Iron Deposits

Petroleum (Oil)

Concept: The term petroleum derives from petro (rock) and oleum (oil). It is the primary mineral resource of Venezuela, forming the foundation of the nation's entire economy.

Characteristics of Crude Oil

• Classification: Oil is typically classified as:
  1. Light Crude
  2. Heavy Crude (including bitumen)
• Purity Measurement: Its purity is determined by the API Gravity (American Petroleum Institute degree).
• Volume Measurement: Content is measured by the barrel, equivalent to 159 liters (approximately 42 US gallons).
• Crude oil is sometimes noted for having natural anesthetic properties.
• Derivatives: Many essential products are extracted from crude oil, including plastics, lubricants, textiles, gasoline, diesel, and kerosene.

Major Venezuelan Oil Basins

Zulia-Falcón Basin

Located in the northwest of the country, this basin holds the largest volume of hydrocarbon reserves and production.

Key Fields in Zulia-Falcón

• Zulia: Lagunillas, Tia Juana, Cabimas, Bachaquero.
• Falcón: Mene Mauroa, Tiguajo.

Eastern Venezuela Basin

This basin extends from the El Trunk Arch in the west to the Gulf of Paria and the Atlantic Ocean in the east. It is the second most important producing basin, notably containing the Orinoco Oil Belt (Faja Petrolífera del Orinoco), known for its extra-heavy crude (bituminous).

Key Fields in Eastern Venezuela

• Anzoátegui: Guara, Oficina, Santa Rosa, Leona, Merey.
• Delta Amacuro: Tucupita, Pedernales.
• Guárico: Budare, Los Mercedes, Cavan, Ruiz, Ybarzo.
• Monagas: Acema, Quiriquire, Oritupano, Maricar.

Tuy-Cariaco Basin

Located north of the Eastern Basin, this area also contains significant hydrocarbon reserves.

Key Fields in Tuy-Cariaco

• Tuy-Cubagua.

Barinas-Apure Basin

Situated in southwestern Venezuela, this region is recognized for its petroleum potential.

Key Fields in Barinas-Apure

• Ataviejo, Maporal, Salvaje, Páez Cinco.

Iron Ore (El Hierro)

Concept: Iron is the metal with the highest rate of employment and industrial use globally. It is Venezuela's second most important mineral resource, providing crucial support for the nation's economic development.

Principal Mineral Areas of Venezuela

Guayana Region

The Guayana Region is renowned for its vast mineral wealth and hydrological importance. It holds some of the world's largest water reserves, situated at the confluence of the Orinoco and Caroní rivers, forming one of the planet's four largest hydraulic basins. Major rivers in the region, all tributaries of the Orinoco (meaning "father of all rivers" in the Aboriginal language), include the Aro, Ocamo, Padamo, Cunucunuma, Ventuari, Suapure, Cuyuní, Caroní, Caura, Yuruari, and Paragua.

Coastal Orographic-Andean Arc

This coastal Andean mountain chain is associated with the production of materials like pig iron and rolled products such as pipes, cables, plates, and electrical parts.

Due to its geographical formation, this area also contains vast deposits of limestone, which are heavily exploited by the construction industry (for cement, marble, granite, lime, and ornamentation). Limestone is the essential mineral used to obtain cement.

General Facts about Iron Ore

• The purity of iron ore is typically expressed as a percentage (%).
• Most of Venezuela's iron reserves are concentrated in the Imataca Ferrous Belt.
• Intensive exploitation of iron began after 1950. Initial discoveries were made in 1945 at small mountains like Pariol and Aricagua, which later became known collectively as Cerro Bolívar starting in 1948.

Key Iron Ore Deposits (Examples)

Cerro Bolívar Deposit Type

• Royal Crown
• El Trueno (The Thunder)
• Cerro Bolívar
• The Ferrigno Quadrilateral of San Isidro
• Altamira

El Pao Hill Deposit Type

• Grúas (Cranes)
• Piace
• El Imperial
• La Retaliación (The Retaliation)
• La Broma (The Joke)
• Mano (Hand)
• Satupana
• Santa Catalina
• El Escondido (The Hidden)
• Cuyubini