Economy
The main activity is the oil industry, since the discovery of the well "Barroso 2" (R4) IN 1922. Currently the oil fields of La Rosa in land and La Salina in Maracaibo's lake. Those are mature fields producing medium/heavy oil from La Rosa formation of Miocene age. La Rosa field was given in concession to German oil company Preussag Energy from 1996 to 2001, when it passed to the Venezuelan Suelopetrol. Later on it became the associated with the Venezuelan State own oil company PDVSA in 2006 being 60% PDVSA and 40% Suelopetrol.
Cabimas doesn't have facilities for natural gas management, processing and transport, so while the gas produced has been flared for several decades, there is currently a project to build a cryogenic plant.
Markets are another income for Cabimas, with big stores founded and owned by immigrants from Mediterranean Europe, Middle East and Colombia. There is fishing activity, currently harassed by the growth of algae in the polluted Maracaibo lake, as well as by insecurity (piracy).
There are some factories like a plastic bag factory and others. There is a former industrial area which is no longer operational. In the countryside, especially in the Aristides Calvani parish, fruit trees are grown and cattle is raised. The Cattle Raisers Association of East Maracaibo Lake operates in Cabimas.
This municipality is also known for a large number of spare auto parts stores.
The Cabimas and Maracaibo areas are both widely known for international credit card fraud.
Read more about this topic: Cabimas
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