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Large quantities of oil and natural gas are found in several areas within South America. The greatest quantities are located in the sedimentary layers surrounding Venezuela’s Lake Maracaibo and the adjacent Caribbean coastal margin. Venezuela also has major deposits of oil and natural gas in the area surrounding El Tigre. The country is one of the world’s largest oil producers and exporters. The Venezuelan government’s seizure of operational control of foreign-owned private oil operations in 2007 had important implications for the region. That same year, the natural gas reserves and oil industry of Bolivia (centred in the eastern lowlands around ...(100 of 23598 words)