The oil specialist José Toro Hardy pointed out, in a radio program, that the future of Venezuela lies in gas, particularly non-associated gas. The Caribbean country has large reservoirs throughout the territory that have not yet been explored, so which has great potential.

“The future of Venezuela lies in gas and most of the deposits in the country are virgin and are gigantic reservoirs,” said the economist.

According to Toro Hardy, the Caribbean country, the gas that “we have exploited, to date, is called associated gas: when producing oil what makes the crude oil flow from the reservoir to the surface is the gas it contains.”

Replacing the oil will take time

For some time, various global organizations have been working to replace fossil fuels with other elements that are less polluting and have less impact on the environment. However, the economist points out that there are several years to go before said replacement can take place.

“The replacement of fossil fuels like coal, oil will take longer than expected”, the economist said and added that the war between Russia and Ukraine generated a crisis in the oil area and all of Europe is “desperate for oil” and the international market is requiring the oil supplied by Venezuela and Iran.

M. Rodríguez

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Source: bancaynegocios.com

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