Venezuela has of conventional oil reserves according to PDVSA figures, the largest in the Western Hemisphere and making up approximately half the total. This puts Venezuela as fifth in the world in proven reserves of conventional oil. By also including an estimated of tar-like extra heavy crude oil in the Orinoco Belt region, Venezuela claims to hold the largest hydrocarbon reserves in the world. Venezuela also has of natural gas reserves. The crude oil PDVSA extracts from the Orinoco is refined into a fuel eponymously named ‘Orimulsion’.