Venezuela Energy Information

Venezuela Energy Research

- Venezuela's Energy & Climate Policy Framework: Venezuela's energy sector is undergoing major reforms under US supervision, opening oil and electricity markets to private investment, while pursuing climate targets and economic recovery.

- Venezuela's Energy Companies: Venezuela's state-controlled energy sector, managed by Corpoelec and PDVSA, is gradually reopening to international private companies following recent shifts in US sanctions and government policy.

- Venezuela's Energy Supply & Demand: Venezuela holds vast hydrocarbon reserves but faces severe energy sector challenges. Following a 2013-2020 collapse, oil, gas, and electricity production are slowly recovering despite ongoing constraints.

- Venezuela's Energy Use & Price by Sector: Following a decline during the economic crisis, final energy consumption has rebounded since 2021. Governed by heavily subsidised prices, demand is led by oil, electricity and gas across key sectors.

- Venezuela's Issues & Prospects: Venezuela is reviving its oil, gas, and electricity sectors through new international agreements and private investments, facilitated by easing US sanctions and regulatory reforms in 2025-2026.

Venezuela Total Energy Production & Consumption

Due to deep political tensions and the economic crisis, the primary energy consumption in Venezuela fell drastically from 2013 to 2020, by about 12% per year on average, to a record-low of 31 Mtoe in 2020. It has rebounded since then (+5.5%/year between 2021 and 2025), rising by 2.3% to 40 Mtoe in 2025. This remains 47% below its 2013 peak level of 75 Mtoe and 15% below its 1990 level.

Graph: Primary Consumption Trends by Energy Source

Source: Venezuela energy report

Interactive Chart Venezuela Total Energy Production & Consumption

Source: Global Energy & CO₂ data

Venezuela Oil Production & Consumption

Crude oil production dropped by 78% (-19%/year) between 2013 and 2020 and has increased by 11%/year since, reaching 59 Mt in 2025. In 2025 alone, it increased by nearly 12%.

Over 80% of the crude oil production is exported. In January 2026, the interim government of Venezuela and the United States reached an agreement to export between 30 and 50 mbl of Venezuelan crude oil sold at market price (worth up to USD2bn) to the United States.

Graph: Crude Oil Production & Consumption

Source: Venezuela energy report

Interactive Chart Venezuela Crude Oil Production & Consumption

Source: Global Energy & CO₂ data

Interactive Chart Venezuela Refined Oil Products Production & Consumption

Source: Global Energy & CO₂ data

Venezuela Natural Gas Production & Consumption

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.

Venezuela started importing gas from Colombia in 2008 when a 180 km-long gas pipeline was commissioned, connecting Guajira (north-east of Colombia) and the area of the Lake Maracaibo, with a capacity of 4.2 mcm/d. Imports stopped in 2016, after reaching 2 bcm between 2010 and 2013.

Source: Venezuela energy report

Interactive Chart Venezuela Gas Production & Consumption

Source: Global Energy & CO₂ data

Venezuela Coal and Lignite Production & Consumption

The production of coal has dropped dramatically since 2006 (less than 400 kt in 2025). It increased strongly between 1990 and 2000, from 2 Mt to 8 Mt, and then remained stable at around 7 Mt until 2006. Most of coal production is exported (over 300 kt in 2025) and the remainder (around 90 kt) is consumed in industry (mainly non-metallic minerals).

Graph: Coal Production & Consumption

Source: Venezuela energy report

Interactive Chart Venezuela Coal and Lignite Production & Consumption

Source: Global Energy & CO₂ data

Venezuela GHG emissions and CO₂ emissions

In October 2025, Venezuela released its updated NDC, aiming to cut greenhouse gas (GHG) emissions by 20% by 2035 compared to a BAU scenario (2024-2030), which is the same mitigation target set in its first plan of 2017 and updated in 2021. The country aims to invest more than USD18.4bn on its mitigation agenda, with the largest share going to transport (USD10bn) and electricity (USD7.8bn). Specifically, Venezuela intends to convert to gas 7 oil-fired plant totalling 3.8 GW, including Planta Centro (2.6 GW), and to develop 5.5 GW of renewables, with at least 3 GW of solar and 1 GW of wind.

Source: Venezuela energy report

Interactive Chart Venezuela CO₂ emissions

Source: Global Energy & CO₂ data