Venezuela Energy Information

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

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

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)