Venezuelan oil revival ‘will take a decade or more’

Venezuela’s oil production has fallen by over 60pc in the last two decades, despite having the largest reserves in the world - Jesus Vargas/Getty The revival of Venezuela’s dilapidated oil industry will take a decade or more, analysts have warned. At least tens of billions of dollars will be required to rebuild the country’s oil sector after years of isolation, dictatorial corruption and economic sanctions, experts said. This will raise questions over the speed at which Donald Trump can upgrade and expa ...