- 2 files (PDF report, Excel file)
30 (Report only)
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
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This analysis includes a comprehensive Venezuela energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 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. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Institutions & Energy Policy
The Energy and OilMinistry 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 hydrocarbons sector is dominated by PDVSA, Petroleos de Venezuela SA (100% public).
The marketed production has remained stable since 2010 at around 22-23 bcm.
Only a quarter of the gas production is marketed; a strong proportion is re-injected (40%). That production is only used to supply the domestic market, with the largest part being used for the production of electricity and in industry.
The Government controls the prices. Gasoline and diesel prices are heavily subsidised: they are the lowest in the world and far below the price of crude oil. Until 2015, gasoline and diesel prices were around US$1.3c/l and US$0.8c/l, respectively. However, in 2016 the government decided to limit subsidies and raised the gasoline price by 1500% (+750% in US$) to US$0.17/l in 2016.
Energy consumption per capita (1.7toe, including nearly 2 100 kWh of electricity in 2016) is relatively high compared to the level of income per capita. It is the highest in South America. However, both energy and electricity consumption per capita has been decreasing since 2013 (17% and 16% drop, respectively).
Issues & Prospects
The development of Venezuela's large reserves is blocked by the on-going economic and political crisis.
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2016, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2016, %)
- GRAPH 5: Map of natural gas infrastructure
- GRAPH 6: Gasoline & diesel prices (US$/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, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
The Venezuela energy market data since 1990 and up to
is included in the Excel file accompanying the Venezuela country report.
It showcases the historical evolution, allowing users to easily work with the data.
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).
The Venezuela country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
- New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
- Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.