The Energy and Oil Ministry lays down the country's energy policy and supervises all the energy companies. The Ministry of Electricity was created in 2009 and supervises the electricity sector. The Planning Ministry (Cordiplan)...
Venezuela energy report
Venezuela energy market analysis is derived from the most recent key economic indicators, supply and demand factors, oil & gas pricing trends and major energy issues and developments surrounding the energy industry. The analysis includes a comprehensive energy market report and updated Venezuela energy market data.
Format: 2 files (PDF report, Excel file)
Pages: 31 (Report only)
Delivery: Immediate by e-mail
- Institutions & Energy Policy
- Energy Companies
The hydrocarbons sector is dominated by a powerful public company, PDVSA, Petroleos de Venezuela SA), which is among the 10 largest oil companies in the world. PDVSA was created in 1976 and is made up of three entities: PDVSA Exploration and Production, PDVSA...
- Energy Supply
Crude oil production has been declining since 2005, dropping from 182 Mt to 148 Mt in 2014 (-19%). It decreased strongly between 1998 and 2003 (-24%) because of OPEC's production quotas and PDVSA's 2002-2003 strike. In 2005 it recovered to its 1998 level. Venezuela produces 620 000 bbl/d from...
- Energy Prices
Electricity prices are very low and have been controlled by the Government since 2003. They are US$1.8c/kWh for households (2013) and US$1.7c/kWh for industry (2013). In August 2014, Corpoelec announced a power subsidy cut for electricity users consuming more than their respective regional...
- Energy Consumption
Energy consumption per capita (2.3 toe, including over 3 000 kWh in 2014) is relatively high compared to the level of income per capita. It is the highest in South America.
In 2014, the overall consumption amounted to 72 Mtoe, with oil accounting for 56%, gas for 33% and hydroelectricity...
- Issues & Prospects
The priority of the Venezuelan energy sector is the development of its large reserves, which make it one of the world's key players today but especially in the future (if light oil and heavy oil are taken into account the country's reserves are among the largest in the world). Therefore, and in...
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
In the Venezuela market report you will find the graphs mentioned below:
- Graph 1: Installed electric capacity by source (2014, %)
- Graph 2: Gross power production by source (TWh)
- Graph 3: Power generation by source (2014, %)
- Graph 4: Map of natural gas infrastructure
- Graph 5: Gasoline & diesel prices (US$/l)
- Graph 6: Electricity prices for industry and households (US$c/kWh)
- Graph 7: Consumption trends by energy source (Mtoe)
- Graph 8: Total consumption market share by energy (2014, %)
- Graph 9: Final consumption market share by sector (2014, %)
In the Venezuela market report you will find follow tables:
- Economic Indicators: Annual historical data including population, GNP growth, imports & exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil & gas reserves, electric & refining capacity, energy production, power production and external trade. All detailed by energy source.
- Demand Indicators: Historical data includes consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source & sector, and, electricity consumption by sector.
- Energy Balances: Unique tabular display of the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
The Venezuela market data since 1990 included in the Excel file is given below.
Historical evolution allows to easily work with the data.
2014 Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Venezuela Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Venezuela energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).
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