- Update
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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
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50 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- ENERGY AND CLIMATE POLICY FRAMEWORK
- ENERGY COMPANIES
- ENERGY SUPPLY AND DEMAND
- ENERGY USE AND PRICE BY SECTOR
- ISSUES AND PROSPECTS
- STATISTICS
- ABBREVIATIONS
- GLOSSARY
Buy Venezuela energy report
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After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).
Overview
Venezuela's energy sector is undergoing significant regulatory and structural reforms under international supervision, aiming to revive oil, gas, and power operations through private investment.
Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.
Highlights
- Venezuela has been facing a severe economic and political crisis since 2013 and has been under US tutelage since the capture of its President in early 2026. The oil sector, which represents over 80% of total export revenues, is being opened to US and international companies.
- The energy sector is controlled by the Government; Corpoelec is responsible for power generation and PDVSA for the oil and gas sector. The US-led new administration is opening the electricity and oil and gas sectors to international private companies.
- Venezuela holds the largest proven oil reserves in the world. However, their development is limited due to the economic situation, and oil and gas production is slowly recovering from the 2013-2020 collapse. A significant part of the thermal power capacity is not operational.
- Final energy consumption has rebounded since 2021, after a rapid decrease between 2013 and 2020. Energy prices are controlled by the Government, and fuel prices are among the lowest in the world.
- The new government has signed several agreements with international companies to accelerate the development of Venezuela's large oil and gas reserves. Investments in the power sector remain insufficient.
Energy & Climate Policy Framework
The Ministry of Hydrocarbons lays down the country's energy policy and supervises all the national energy companies. The Ministry of Electrical Energy supervises the electricity sector.
The Ministry of Planning is involved in the development of the energy plans and the definition of the sector's main priorities.
Energy Companies
Electricity:
Corpoelec is responsible for power generation. In 2007, the company took over all power generation companies, including Edelca (Electrificación del Caroní; 72% of the production), Cadafe (9.5%), Elecar (9%) and Enelven (5.5%).
Energy Supply & Demand
Gas:
Natural gas production contracted by 3.8% to 22 bcm in 2025, after four years of steady growth (+5.6%/year). Previously, it had increased by around 1.2%/year between 2010 and 2017, before collapsing by 28% in 2018 and stabilised around 19 bcm until 2020. Venezuela does not produce or import any LNG.
Energy Use and Price by Sector
Energy Prices in Residential:
Electricity prices are very low and have been controlled by the Government since 2003.In 2025, they were around US$4c/kWh for households (stable since 2015). Previously, 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.
Issues & Prospects
Electricity:
Because of the underinvestment of the last 10 years and the fact that many of the country's installations are outdated and of the expected consumption growth, Venezuela now requires substantial investments in the electricity sector. However, only 5 GW are planned, mostly hydro and gas power plants (most of which are currently frozen).
Graph: Upcoming New Capacity by Energy Source
- Graph 1: Primary Consumption Trends by Energy Source
- Graph 2: Total Consumption Market Share by Energy (2025)
- Graph 3: Installed Electric Capacity by Source
- Graph 4: Installed Electric Capacity by Source (2025)
- Graph 5: Gross Power Production by Source & Consumption
- Graph 6: Power Generation by Source (2025)
- Graph 7: Crude Oil Production & Consumption
- Graph 8: Petroleum Products Production & Consumption
- Graph 9: Gas Production & Consumption
- Graph 10: Coal Production & Consumption
- Graph 11: Emissions of GHG and CO2-from Fuel Combustion
- Graph 12: Final Demand Trends by Energy Source
- Graph 13: Final Consumption by Sector
- Graph 14: Final Consumption Market Share by Sector (2025)
- Graph 15: Final Consumption in Industry by Energy Source
- Graph 16: Final Consumption in Transport by Energy Source
- Graph 17: Final Consumption in Residential, Services, Agriculture by Energy Source
- Graph 18: Upcoming New Capacity by Energy Source
- 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).