Venezuela

The last is Venezuela, a South American nation with natural resources worth $14.3 trillion, according to estimates. They consist of oil, gas, and iron. It was OPEC's fourth-largest producer of oil as of 2019. It had the greatest known oil reserves in the world in 2020. Additionally, it possesses the tenth-largest natural gas reserves.

2.7% of the world's oil supply is shared by it. When it comes to oil reserves, Venezuela ranks sixth in the world with roughly 99 billion oil barrels. This makes up around 7.4% of the entire world's supply.

The electricity sector in Venezuela is among the unique ones in the world to depend primarily on hydropower. In 2015, about 64% of the nation’s energy needs were satisfied by hydroelectricity. The total production in that year was around 117 TWh, which means that about 74.88 TWh came from hydropower. In that year, Venezuela produced about 1.9% of the total hydropower produced in the world.

Petroleum and petroleum-derived commodities account for around 95% of the country's total export revenues, illustrating its dependency on the commodity – and vulnerability in these decarbonized times. However, its natural resources also include diamonds, gold, natural gas, bauxite, and iron ore.