According to Google's blurb if you search Venezuela:
Venezuela is one of the world's largest exporters of oil and has the world's largest proven oil reserves at an estimated 296.5 billion barrels (20% of global reserves) as of 2012.
And the the wicki link produces this graph:
“Venezuela is one of the world’s largest exporters of oil and has the world’s largest proven oil reserves at an estimated 296.5 billion barrels (20% of global reserves) as of 2012.”
That’s like stating that a car has 1000HP, but omitting that it lacks a transmission and wheels.