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Venezuela Energy Information

Venezuela Key Figures

Population: 31.6 million
GDP growth rate: -18 %/year
Energy independence: 100%

Data of the last year available: 2016
Total consumption/GDP:* 98.0 (2015=100)
CO2 Emissions: 3.97 tCO2/capita
Rate of T&D power losses: 35.0%

* at purchasing power parity

View all macro and energy indicators in the Venezuela energy report

Venezuela Related News

View all news, archive your new and create your own daily newsletters only on your topics/countries of interest with Key Energy Intelligence

Venezuela Related Research

Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data

A data overview is available in the global energy statistics app

Total 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 2016. In 2016, it amounted to 5.4.6 Mtoe (-8% from 2015), with oil accounting for 51%, gas for 38% and hydroelectricity for 10%.

Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

Interactive Chart Venezuela Total Energy Consumption

Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data

View the detailed fondamentals of the market at country level (graphs, tables, analysis) in the Venezuela energy report

Crude Oil Production

Crude oil production has been declining since 2005, dropping from 182 Mt to 135 Mt in 2016 and to an estimated 120 Mt in 2017 (-35%). Production of heavy oils from the Orinoco Belt represents around 20% of the country's oil production.

The Carabobo-1 project started production in 2013. Its production is expected to gradually reach a level of 400 000 bbl/d of extra-heavy oil by 2019-2020.

Approximately 65% of the oil production is exported. In addition, Venezuela exports oil products: 14 Mt in 2016.

Interactive Chart Venezuela Crude Oil Production

Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data

Additionally, for more detailed information on refineries, you can request a sample of our America Refineries Dataset

CO2 Fuel Combustion/CO2 Emissions

During the COP21 in Paris in December 2015, Venezuela presented its national objective to reduce GHG emissions by 20% by 2030. The commitment will depend on financial aid and technology transfer from wealthy countries.

CO2 emissions from energy combustion have dropped by 24% since 2010 with the economic crisis.

Graph: CO2-ENERGY EMISSIONS (MTCO2)

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