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Venezuela Energy Information

Venezuela Key Figures

Population:
27.9 million
GDP growth rate:
4.00 %/year
Energy independence:
100%

Data of the last year available: 2023

Total consumption/GDP:*
148 (2005=100)
CO2 Emissions:
2.14 tCO2/capita
Rate of T&D power losses:
20.5%

* at purchasing power parity

View all macro and energy indicators in the Venezuela energy report

Venezuela Energy 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

Venezuela Total Energy Consumption

Energy consumption per capita (1.3toe, including 2 400 kWh of electricity in 2023) is relatively high compared to the level of income per capita.

Primary energy consumption has rebounded by 10%/year since 2023 to 37 Mtoe, after a decrease at an average rate of 12%/year between 2013 and 2020.

In 2023, oil accounted for 47% of that consumption, gas for 36% and hydroelectricity for 15%.

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

Venezuela Crude Oil Production

Crude oil production dropped by 77% between 2013 and 2021 and has increased by 12%/year since 2021 to 47 Mt in 2023.

Approximately 70% of the oil production is exported. In addition, Venezuela exported 3.7 Mt of oil products in 2023.

Venezuela has 5 large refineries with a total capacity of 1.5 mb/d: Puerto Cabello (340 kb/d), Puerto Cruz (187 kb/d), and the complex of Paraguana, which consists of 3 refineries (Amuay, Cardon, and Bajo Grande) with a capacity of 971 kb/d.

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

Venezuela CO2 Fuel Combustion/CO2 Emissions

The updated NDC (2021) confirmed the objective set at COP21 in Paris (2015), to reduce GHG emissions by 20% by 2030 compared to a BAU projection.

CO2 emissions from energy combustion dropped by 72% between 2012 and 2020 with the economic crisis. However, emissions have increased by 16%/years since 2021with the energy consumption increase.

Graph: CO2-ENERGY EMISSIONS (MTCO2)