Energy Reports

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.

Venezuela energy report
Update: February, 2018
Format: 2 files (PDF report, Excel file)
Pages: 30 (Report only)
Delivery: Immediate by e-mail


Venezuela energy market report offers an incisive and reliable overview of the energy sector in Venezuela. With a focus on oil, gas, coal and power markets, the report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2016 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities.

  • Institutions & Energy Policy

    The Energy and Oil Ministry lays down the country's energy policy and supervises all the energy companies. The Ministry of Electricity supervises the electricity sector. The Planning Ministry (Cordiplan) is involved in the development of the energy plans and the definition of the sector's main priorities. The Ministry of Finances is involved on the level of investments, loans and taxes- in ...

  • Energy Companies


    The hydrocarbons sector is dominated by PDVSA, Petroleos de Venezuela SA (100% public).

  • Energy Supply


    Venezuela has substantial hydrocarbon reserves. The proven oil reserves, including non-conventional resources, reached 40 Gt in 2016, making them the largest in the world, and they are expected to increase. These reserves include approximately 220 Gbl of heavy crude from the Orinoco belt; the Orinoco belt's technically recoverable heavy oil is estimated at 513 Gbl.

    Gas reserves, which ...

  • Energy Prices


    Electricity prices are very low and have been controlled by the Government since 2003. In 2016, they were around US$1.9c/kWh for households. They were raised by over 80% in 2014 and 2015, after Corpoelec announced a power subsidy cut for electricity users consuming more than their respective regional average in 2014.


  • Energy Consumption

    Energy consumption per capita (1.7toe, including nearly 2 100 kWh of electricity in 2016) is relatively high compared to the level of income per capita. It is the highest in South America. However, both energy and electricity consumption per capita has been decreasing since 2013 (17% and 16% drop, respectively).

    Consumption has decreased at an average rate of 7%/year between 2012 and ...

  • Issues & Prospects

    The development of Venezuela's large reserves is blocked by the on-going economic and political crisis.

Download the Table of Contents

In the Venezuela market report you will find the graphs mentioned below:

  • GRAPH 1: CO2-energy Emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2016, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2016, %)
  • GRAPH 5: Map of natural gas infrastructure
  • GRAPH 6: Gasoline & diesel prices (US$/l)
  • GRAPH 7: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2016, %)
  • GRAPH 10: Final consumption market share by sector (2016, %)

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.

2016 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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