Skip to main content

Venezuela energy report

Venezuela energy report
3 files (PDF report, 2 Excel files)
28 (Report only)
Immediate by e-mail
Table of Contents

Download the Table of Contents

Buy Venezuela energy report

Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.

After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).

890 €


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.


  • The economy collapsed between 2013 and 2020 and is now growing again.
  • The energy sector is controlled by the Government; Corpoelec is responsible for power generation and PDVSA for the oil and gas sector.
  • Venezuela holds the largest proven oil reserves in the world. However, their development is limited due to the economic situation.
  • A significant part of the power capacity is not operational. Around half of this capacity is from hydro.
  • Energy prices are controlled by the Government.
  • Gasoline and diesel are among the lowest in the world.
  • Total energy consumption rebounded in 2022 after a rapid decrease between 2013 and 2020 (12%/year on average).
  • PDVSA and Rosneft have signed several gas E&P agreements and are committed to five JVs.
  • Several gas-powered power plants under construction were abandoned because of the crisis.
rank worldwide for proven oil reserves
in power generation since 2010
oil production since 2010
  • 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.

  • Energy Companies


    PDVSA Gas is in charge of the exploration and the exploitation of gas, as well as of the production and sale of LNG on national and international markets.

  • Energy Supply


    Crude oil production dropped by 77% between 2013 and 2020 and increased by 13% in 2022 to 42 Mt.

    Approximately 61% of the oil production is exported. In addition, Venezuela exports oil products: 2.3 Mt in 2022.

  • Energy Prices


    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.

  • Energy Consumption

    Energy consumption per capita (1.3toe, including nearly 2 000 kWh of electricity in 2022) is relatively high compared to the level of income per capita. However, both energy and electricity consumption per capita has been decreasing since 2018 (10% and 12% 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 (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Map of natural gas infrastructure
  • GRAPH 6: Consumption trends by energy source (Mtoe)
  • GRAPH 7: Total consumption market share by energy (2022, %)
  • GRAPH 8: Final consumption market share by sector (2022, %)
  • 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.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

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).