Abstract: Due to the discriminatory policy of oil-output restriction，the quotas are fully absorbed by foreign-invested companies that are working on Orinoco heavy oil zone in Venezuela，resulting in an effective quota restriction of 20%. Such policy will continue to be implemented by the Venezuelan government in the futur
e. If the international oil corporations (IOCs) don′t take seriously the effects of such practice，they will be bound to suffer considerable economic losses in the Orinoco heavy oil zone projects. Based on a study of the history and development of Venezuela′s discriminatory policy in oil-output restriction，this paper explores the potential risks of investment in the heavy oil zones in Venezuela and puts forward some countermeasures as follows：The IOCs should join forces with each other to petition the Venezuelan Government for ceasing its discriminatory policy，or，should give a fully DOWNSIDE consideration regarding the restriction in the Projects′ evaluation before bidding for it.

Key words: OPEC, Venezuela, output restriction, quota, discriminatory policy