Rohit Sharma’s off-side masterclass, complemented by Ryan Rickelton’s on-side dominance, helped the Mumbai Indians end a 14-year wait and begin their Indian Premier League campaign with a commanding six-wicket win over Kolkata Knight Riders at the Wankhede Stadium on Sunday (March 29
Foreign investors are pulling money out of Indian equities at an unprecedented pace, as a global risk-off sentiment and rising energy costs cloud the country’s growth outlook, according to a report by Bloomberg. Overseas investors have sold a net $11
Microsoft is taking over a data centre construction project in Texas after OpenAI declined to pursue it, in a move that will make the two companies neighbours at one of the nation’s largest complexes for running artificial intelligence. Data centre developer Crusoe said Friday it is working with
Global oil prices jumped and stocks fell sharply on Monday morning in Asia after the US-Israel war entered its fifth week. The price of Brent crude rose by more than 3% to above $115 (£86.77) a barrel, while US-traded oil climbed to $103 after gaining around 3.5%
Shaheen Afridi’s awkward reply to Ramiz Raja after PSL ball controversy goes viral. Watch what happened in the final over drama. A viral post-match video from Pakistan Super League 2026 has put Shaheen Afridi under intense scrutiny after a ball-tampering controversy cost Lahore Qalandars a
Sensex opened at 72,565, down over 1,000 points or 1.38 per cent, while Nifty started Monday’s session at 22,549, slipping 267 points or around 1 per cent. Mumbai: Domestic benchmark indices opened sharply lower on Monday, declining over 1 per cent each amid escalating tensions in West Asia
Police arrested Muhammad Roshan in Perinthalmanna for attempting to extort Rs 15 crore. Roshan allegedly threatened to circulate defamatory images of IUML state president Sayyid Sadikkali Shihab Thangal online. He also issued death threats if the matter was reported
According to Satheesan, the UDF should be able to win 100 plus seats. When the Congress wins this election in Kerala, the party will emerge as the largest political force in South India, he says. Five-time Congress MLA is a prominent United Democratic Front (UDF) face in Kerala
This Oil-Rich Country Battles Extreme Poverty And World’s Worst Inflation
This Country Holds World’s Largest Oil Reserves, But Sinks In Poverty And Faces World’s Highest Inflation
Despite sitting on 303 billion barrels of crude, the nation's oil is costly to refine, exports remain meagre and mismanagement keeps its people trapped in crisis.
Caracas: Venezuela sits on the largest proven oil reserves in the world. Still, the country remains trapped in poverty and is crippled by the highest inflation rate anywhere on the planet. Despite its oil wealth, Venezuela is counted among the poorest nations today.
In early September, tensions with the United States deepened further. On September 2, the U.S. Navy launched a missile strike on a Venezuelan boat, killing 11 civilians. Washington later claimed the vessel was carrying narcotics.
The attack came at a time when a wider U.S. military campaign was going on targeting South American drug cartels, with warships and surveillance aircraft stationed near regional waters. Following the strike, U.S. President Donald Trump publicly accused Venezuela of trafficking.
Add Zee News as a Preferred Source
The episode marked another flashpoint in a long and troubled history between Caracas and Washington, shaped by oil, politics and security disputes.
Venezuela held an estimated 303 billion barrels of proven crude reserves by 2023. No other nation comes even closer to it. Saudi Arabia follows with 267.2 billion barrels, then Iran with 208.6 billion and Canada with 163.6 billion.
Together, these four countries account for more than half of the world's oil wealth.
Venezuela's reserves are so vast that they are more than five times greater than those of the United States. America holds around 55 billion barrels, ranking ninth globally.
Despite this enormous advantage, Venezuela earns less than one-fifth of U.S. oil revenues.
Most of Venezuela's crude lies in the Orinoco Belt, a massive 55,000-square-kilometre stretch in the country's east. The oil here is heavy, dense and sulfur-rich. Unlike lighter crude from the Gulf states, it is sticky and costly to refine. Extracting it requires advanced technology and heavy investment. Because of its poor quality and high production costs, Venezuelan crude fetches a lower price in the global market compared to other exporters.
Oil production in Venezuela is dominated by the state-owned company Petróleos de Venezuela, S.A. (PDVSA). Once considered a regional powerhouse, the PDVSA is now crippled by outdated infrastructure, chronic underinvestment, corruption scandals and international sanctions. The company cannot operate at full capacity, leaving much of the country's massive reserves untapped.
The Observatory of Economic Complexity (OEC) reported that Venezuela exported just $4.05 billion worth of crude oil in 2023. The figure pales in comparison with leading exporters. Saudi Arabia shipped $181 billion, the United States $125 billion and Russia $122 billion.
Beyond crude, Venezuela sells only small amounts of refined products such as gasoline and diesel.
Despite holding the crown as the world's top oil-rich nation, Venezuela continues to battle hunger, shortages and one of the most unstable currencies anywhere in the world. Its vast underground wealth remains locked away, while its people struggle to survive one of the harshest economic crises of the modern era.
Source: ZeeNews
Related Posts: Taiwan Is Now Biggest Buyer Of Russian Crude Oil Product Despite Backing Ukraine India to take 100 million barrels of Russian oil waiting for China Trump says Venezuela will be 'turning over' up to 50m barrels of oil to US Trump admin's sanctions may leave 48 mn barrels of Russian oil stranded at sea Trump says Venezuela to turn over up to 50 million barrels of oil to US South Korea secures extra 18 milion barrels of oil from UAE Trump says US will get up to 50 million barrels of oil from Venezuela Indian Oil-led refiners eye Russian crude oil again as Iran war hits supply Oil minister allays fears over Russian crude oil supply India’s crude and gas supplies secure despite West Asia conflict
Golf legend Tiger Woods has been released on bail following his arrest on charges of driving under the influence after rolling his car in a crash in Florida. The Martin County Sheriff's Office said the 15-time major champion was also charged with property damage and refusal to submit to a lawful
2 hours ago
Sugar-free products that contain sugar. ‘Real’ fruit juices made of artificial ingredients. Energy drinks with hazardous compositions. Unproven remedies claiming to control diabetes. Health drinks for children loaded with excess sugar. These products have one thing in common: their
2 hours ago
The move specifically supports 21 states and Union Territories, including Delhi, Haryana, Uttar Pradesh, and Gujarat, focusing on areas that had previously become "kerosene-free". New Delhi: The government on Sunday eased the petroleum safety and licensing rules to allow faster distribution of
2 hours ago
Hardik Pandya’s girlfriend Mahieka Sharma protects his son from paparazzi at Wankhede Stadium: 'Disturb ho raha hai’Hardik Pandya’s girlfriend Mahieka Sharma was spotted in the stands of Wankhede Stadium, cheering him, accompanied by his young son, Agastya. Mar 30, 2026
2 hours ago
The stock market continued its slide on Monday amid concerns surrounding the conflict in West Asia and surging energy prices. The benchmark Sensex index had fallen by more than 500 points or 0.7% as of 9.30 am. The Nifty had sunk 0.6%, or by nearly 150 points
2 hours ago
The Bihar School Examination Board (BSEB) declared the Class 10 results 2026 on March 29. The results were announced by Education Minister Sunil Kumar in the presence of BSEB Chairman Anand Kishor. Students who appeared in the examination can now check the results by visiting — result
2 hours ago
An Indian citizen was killed in an Iranian missile attack on an electricity power station and a water distillation plant in Kuwait, the country’s government said on Monday. With this incident on Sunday, eight Indians have been killed in the conflict in West Asia so far
2 hours ago
Zayed Khan has revealed that his mother Zarine Khan wanted her ashes immersed in a river. The revelation comes months after her funeral sparked conversation due to Hindu rituals being followed despite her mixed religious background. Speaking in a recent interview with Zoom
2 hours ago
Sensex, Nifty open lower, on course for biggest monthly loss in six yearsThe Sensex and Nifty 50 have lost about 10.5% each in March 2026—the most since March 2020—amid a sliding rupee and record FII outflows due to Iran war. Updated on: Mar 30
2 hours ago
In a darkened control room in Navi Mumbai, 100 operators oversee bots monitoring 30,000 ATMs across India. Their cameras, sensors and bots do the work that 60,000 security guards once did. That control room is a small window into something much larger.In a darkened control room in Navi Mumbai
2 hours ago
The Delhi Directorate of Education (DoE) will declare the Class 9 and 11 results 2026 today, March 30. Students can check and download their stream-wise exam scores from the official website, edudel.nic.in. To access the results, candidates must enter their student ID number, class, section
2 hours ago
Rahul Arunoday Banerjee and Priyanka Sarkar’s love story: From divorce to reuniting for 13-year-old son SajjadBengali actor Rahul Arunoday Banerjee dies at 43 in drowning incident at Talsari Beach, leaving behind wife Priyanka Sarkar and son Sahaj. Mar 30, 2026
2 hours ago
As kitchens across India adapt to challenges like LPG shortages and increasingly busy lifestyles, many households are turning to smarter, low-effort ways of eating. But this shift highlights an important idea, having a well-stocked kitchen can be just as important as having a well-equipped one
2 hours ago
The Uttar Pradesh Public Service Commission (UPPSC) has declared the final result of the Combined State/Upper Subordinate Services (PCS) 2024. This year’s results once again saw girls outperform boys. The top two ranks have been secured by females
2 hours ago
Techie quits job after manager shouts and uses rude language: ‘Told me to get out of this project’After a colleague’s mistake, the manager reportedly shouted, used abusive language, and told the techie to leave the project. Published on: Mar 30
2 hours ago
Lahore Qalandars batter Fakhar Zaman faces ball-tampering charges. The incident occurred during a Pakistan Super League match against Karachi Kings. Officials awarded five penalty runs to Karachi. Fakhar denied the charge. A disciplinary hearing is scheduled
2 hours ago
Mukesh Ambani spotted on phone during MI vs KKR IPL match, internet says ‘Running the economy’Billionaire Mukesh Ambani was spotted talking on the phone in the middle of the Mumbai Indians vs Kolkata Knight Riders IPL match last night. Updated on: Mar 30
2 hours ago
RBSE 12th Result 2026 Live Updates:- The Board of Secondary Education, Rajasthan (BSER) will release the RBSE 12th Result 2026 soon. Candidates can check and download their provisional scorecards at the official website rajeduboard.rajasthan.gov.in and result portal at rajresults.nic.in
2 hours ago
Did you know low-sugar diet can age you faster even after taking collagen? Nutritionist explainsCollagen helps maintain skin health, but it cannot be utilised if the body is running low on energy, which is primarily produced from glucose, explains Athena. Updated on: Mar 30
2 hours ago
Lahore Qalandars penalised 5 runs in PSL 2026. Here’s what happened, why Fakhar Zaman is charged, and what comes next. The Pakistan Super League has a big problem now. Lahore Qalandars got a five-run penalty for changing the ball on purpose against Karachi Kings
2 hours ago
Union Home Minister Amit Shah on Sunday said that a Uniform Civil Code would be introduced in Assam if the Bharatiya Janata Party retains power in the state in the Assembly elections, The Hindu reported. Speaking at a poll rally in Nalbari district
2 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Which 2-ton AC should you buy for lower electricity bills? Here are some top options to considerPlanning to buy a 2-ton AC this summer? Here’s a quick look at which models use less
2 hours ago
The last rites of former Raymond Group chairman Vijaypat Singhania were performed in Mumbai on Sunday (March 29, 2026). He passed away on Saturday (March 28, 2026) at the age of 87. Mr. Singhania headed the Raymond Group for two decades. A recipient of the Padma Bhushan, he was also an adventurer
2 hours ago
AIADMK General Secretary Edappadi K Palaniswami has strongly criticized the DMK's Rs 8,000 coupon promise for women. He alleges the scheme is designed to earn commissions and that people will be fooled again. Palaniswami accused the DMK government of corruption and prioritizing looting over public
2 hours ago
With several people contributing money, precious metals to help residents in Iran amid war West Asia conflict. A child in Ladakh broke her 'gullak' to contribute. Iran relief drive: Residents of Leh have been stepping forward with donations ranging from cash and jewellery to other valuables
2 hours ago
Four-time Grand Slam champion Jannik Sinner on Sunday, March 29, created history to become the first player, male or female, to win the Sunshine Double without dropping a single set, after he thrashed Jiri Lehecka in straight sets in the final of the Miami Open
2 hours ago
International crude oil prices climbed more than 3% on Monday as tensions in West Asia escalated, with Yemen’s Houthi militants opening a new front through missile and drone strikes on Israel. At around 6:30 am, the May contract of Brent crude on the Intercontinental Exchange was trading at $115
2 hours ago
