U.S. Energy Information Administration (EIA)
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Venezuela  

Country Analysis Brief Overview

  • Venezuela contains some of the largest oil and natural gas proven reserves in the world. In 2013, Venezuela was the third-largest exporter of crude oil to the United States. It consistently ranks as one of the top suppliers of crude oil to the United States.
  • Venezuela was the world's 9th largest exporter and 12th largest producer of petroleum and other liquids in 2013.
  • At 2.49 million barrels per day (bbl/d) of petroleum and other liquids produced in 2013, Venezuela is the world's 12th largest producer and the 5th largest producer in the Americas.
  • Venezuela's Orinoco Belt may contain upwards of 513 billion barrels of crude oil. However, much of the resource is heavy and requires additional capital to bring it to market.
  • Venezuela was the fourth-largest supplier of imported crude oil and petroleum products to the United States in 2013. However, Venezuela's exports to the United States have been declining while U.S. exports of petroleum products to Venezuela have been increasing.
  • Venezuela maintained 2.8 million bbl/d of total global refining capacity in assets throughout the United States, the Caribbean, Europe, and domestically in Venezuela in 2013. In 2013, domestic natural gas production accounted for just over a third of the UK's natural gas supply.
  • Venezuela has the second-largest natural gas reserves in the Americas, behind the United States. Much of the natural gas is used to bolster production in its mature oil fields.
  • About 90% of Venezuela's natural gas is found associated with oil but the country is looking to locate and produce more natural gas from non associated fields.
  • Venezuela depends on hydroelectricity for the bulk of its electricity needs, accounting for 60% or more in the past decade.

Read full Venezuela Analysis Brief »

Analysis Last Updated: June 20, 2014


Overview data for Venezuela

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Petroleum (Thousand Barrels per Day)
Previous Year
Latest Year
   
History
Venezuela
Central & South America
OPEC
World
Rank
Venezuela
Total Oil Production 2246.0000 , 2177.0000 , 1973.0000 , 1874.0000 , 1872.0000 , 1757.0000 , 1890.1982 , 1857.2516 , 2008.2108 , 2024.7320 , 2262.1798 , 2509.8431 , 2519.6492 , 2634.2971 , 2796.2942 , 2982.2384 , 3175.4385 , 3517.5536 , 3408.7968 , 3109.2219 , 3460.7588 , 3333.9884 , 2924.2040 , 2581.4288 , 2855.1677 , 2866.9306 , 2746.5337 , 2681.9924 , 2655.6960 , 2509.7452 , 2404.9958 , 2489.2424 , 2489.2424 , 2489.2424
(1980-2013)
2,489.24 7,801 36,981 89,700 13 2,489.24
Crude Oil Production 2168.0000 , 2102.0000 , 1895.0000 , 1801.0000 , 1798.0000 , 1677.0000 , 1787.0000 , 1752.0000 , 1903.0000 , 1907.0000 , 2137.0000 , 2375.0000 , 2371.0000 , 2450.0000 , 2588.0002 , 2750.1370 , 2938.0000 , 3280.0000 , 3167.0137 , 2825.8000 , 3155.0000 , 3010.0000 , 2603.9452 , 2335.1918 , 2556.9399 , 2564.6575 , 2510.5479 , 2490.3014 , 2464.0164 , 2319.4521 , 2215.7534 , 2300.0000 , 2300.0000 , 2300.0000
(1980-2013)
2,300.00 6,639 33,192 75,898 12 2,300.00
Consumption 400.0000 , 433.0000 , 427.0000 , 400.0000 , 379.0000 , 383.2400 , 401.5575 , 404.4127 , 396.9310 , 387.6502 , 395.5902 , 405.0020 , 413.8145 , 426.9544 , 440.2819 , 448.4670 , 443.8088 , 454.5653 , 456.7565 , 461.2104 , 499.7073 , 544.4662 , 570.6732 , 540.6430 , 552.8457 , 583.1515 , 630.9750 , 691.1045 , 862.3921 , 674.6763 , 718.1866 , 743.2244 , 776.9000 , 784.0000
(1980-2013)
776.90 6,939 8,765 89,160 23 784.00
Estimated Petroleum Net Exports 1846.0000 , 1744.0000 , 1546.0000 , 1474.0000 , 1493.0000 , 1373.7600 , 1488.6407 , 1452.8389 , 1611.2799 , 1637.0818 , 1866.5896 , 2104.8411 , 2105.8347 , 2207.3427 , 2356.0124 , 2533.7715 , 2731.6297 , 3062.9883 , 2952.0402 , 2648.0115 , 2961.0515 , 2789.5222 , 2353.5309 , 2040.7858 , 2302.3219 , 2283.7791 , 2115.5587 , 1990.8879 , 1793.3039 , 1835.0689 , 1686.8092 , 1746.0179 , 1712.3424 , 1705.2424
(1980-2013)
1,712.34 863 28,216 -- 10 1,705.24
Refinery Capacity 1446.0000 , 1349.0000 , 1323.0000 , 1284.0000 , 1224.0000 , 1224.0000 , 1230.0000 , 1225.0000 , 1201.0000 , 1201.0000 , 1201.0000 , 1167.0000 , 1171.0000 , 1167.0000 , 1167.0000 , 1167.0000 , 1177.0000 , 1177.0000 , 1177.0000 , 1187.2000 , 1238.8800 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000 , 1282.1000
(1980-2012)
1,282 6,582 8,987 88,097 18 1,282
Proved Reserves(Billion Barrels) 17.8700 , 17.9500 , 20.3000 , 21.5000 , 24.8500 , 25.8450 , 25.5910 , 25.0000 , 56.3000 , 58.0839 , 58.5040 , 59.0400 , 59.1000 , 62.6500 , 63.3300 , 64.4770 , 64.4770 , 64.8780 , 71.6689 , 72.6000 , 72.6000 , 76.8620 , 77.6850 , 77.8000 , 77.8000 , 77.2260 , 79.7290 , 80.0120 , 87.0350 , 99.3770 , 99.3770 , 211.1700 , 211.1700 , 297.5700 , 297.7400
(1980-2014)
297.57 326 1,205 1,646 2 297.74
Natural Gas (Billion Cubic Feet)
Previous Year
Latest Year
   
History
Venezuela
Central & South America
World
Rank
 
Venezuela
Production 517.0000 , 572.0000 , 600.0000 , 576.0000 , 610.0000 , 618.0000 , 674.0000 , 657.0000 , 656.1500 , 768.5200 , 760.8900 , 793.4800 , 763.4397 , 815.0000 , 876.1600 , 890.2200 , 960.5680 , 993.7641 , 1110.3036 , 945.7357 , 960.5680 , 1119.8387 , 1003.2992 , 861.6860 , 960.5680 , 827.9249 , 918.1900 , 732.0446 , 732.7863 , 650.8201 , 696.6943 , 733.4572 , 802.5687 , 1002.9460
(1980-2013)
802.57 5,738 118,866 27   1,002.95
Consumption 517.0000 , 572.0000 , 600.0000 , 576.0000 , 610.0000 , 618.0000 , 674.0000 , 657.0000 , 656.1500 , 768.5200 , 760.8800 , 793.4800 , 763.4397 , 815.0000 , 876.1600 , 890.2200 , 960.5680 , 993.7641 , 1110.3036 , 945.7357 , 960.5680 , 1119.8387 , 1003.2992 , 861.6860 , 960.5680 , 827.9249 , 918.1900 , 735.5761 , 785.7588 , 714.4225 , 747.7598 , 796.9183 , 868.8549 , 1077.1075
(1980-2013)
868.85 5,577 120,017 31   1,077.11
Net Export/Imports(-) 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , 0.0000 , -3.5315 , -52.9725 , -63.5670 , -51.0655 , -63.4611 , -66.2863
(1990-2012)
-63.46 471 -- 42   -66.29
Proved Reserves
(Trillion Cubic Feet)
42.8000 , 42.0000 , 47.0000 , 54.0790 , 54.5460 , 55.3670 , 59.0670 , 59.0000 , 95.0000 , 102.2430 , 100.8460 , 105.6880 , 110.0000 , 126.4920 , 128.9000 , 130.4000 , 139.9000 , 141.6000 , 143.0780 , 142.5000 , 142.5000 , 146.8000 , 147.5850 , 148.0000 , 148.0000 , 151.0000 , 151.3950 , 152.3800 , 166.2600 , 170.9200 , 175.9700 , 178.8600 , 195.1000 , 195.1000 , 196.4110
(1980-2014)
195.10 269 6,846 8   196.41
Coal (Million Short Tons)
Previous Year
Latest Year
   
History
Venezuela
Central & South America
World
Rank
 
Venezuela
Production 0.0463 , 0.0540 , 0.0562 , 0.0408 , 0.0562 , 0.0463 , 0.0628 , 0.0683 , 1.2015 , 2.3424 , 2.4135 , 2.3978 , 2.7004 , 4.2053 , 4.7154 , 4.4800 , 4.0109 , 5.6725 , 8.2188 , 7.6932 , 8.6913 , 8.3614 , 8.1228 , 7.5034 , 7.4384 , 7.9306 , 8.6784 , 6.7204 , 5.4259 , 3.6175 , 3.0093 , 2.5033 , 3.4392
(1980-2012)
2.503 104 8,444 40   3.439
Consumption 0.3285 , 0.2811 , 0.1753 , 0.2271 , 0.2315 , 0.3175 , 0.3362 , 0.2568 , 0.3516 , 0.3726 , 0.2464 , 0.0007 , 0.0050 , 0.0430 , 0.0840 , 0.0080 , 0.2325 , 0.0520 , 1.4631 , 0.0554 , 0.1990 , 0.0743 , 0.0271 , 0.0650 , 0.2123 , 0.0553 , 0.1731 , 0.2093 , 0.2129 , 0.3577 , 0.3285 , 0.2205 , 0.3307
(1980-2012)
0.220 51 8,285 89   0.331
Net Export/Imports(-) -282.1917 , -227.0761 , -119.0496 , -190.6999 , -190.6999 , -285.4986 , -305.3402 , -307.5449 , 907.2022 , 1796.7675 , 2021.5288 , 2420.8852 , 2545.6338 , 4216.5063 , 4558.0575 , 4676.2804 , 3986.7185 , 5627.1893 , 6512.2902 , 7526.5268 , 8740.8220 , 8333.5069 , 8095.6722 , 7438.3971 , 7226.1029 , 7874.1628 , 8260.5780 , 6963.0253 , 5213.0068 , 3259.7882 , 2680.8212 , 2282.8868 , 3108.5180
(1980-2012)
2.283 52 -- 96   3.109
Electricity (Billion Kilowatthours)
Previous Year
Latest Year
   
History
Venezuela
Central & South America
World
Rank
 
Venezuela
Net Generation 32.0120 , 35.9570 , 38.2740 , 41.8010 , 42.6450 , 46.2200 , 48.3630 , 52.4270 , 56.4600 , 55.8960 , 57.6060 , 61.7520 , 65.7440 , 67.5790 , 69.4980 , 71.5980 , 73.7450 , 76.2450 , 78.9470 , 78.7770 , 83.2400 , 87.7330 , 86.6460 , 89.2670 , 96.2160 , 101.3850 , 107.9040 , 111.8418 , 116.4816 , 116.7030 , 115.1070 , 118.9190
(1980-2011)
115.11 1,097 20,254 30   118.92
Net Consumption 26.8370 , 32.2840 , 32.1230 , 35.1390 , 37.2290 , 39.3970 , 39.7530 , 42.9650 , 47.0870 , 46.1320 , 46.9280 , 49.4510 , 53.2300 , 54.5940 , 55.2030 , 56.1700 , 57.8420 , 59.8480 , 61.1710 , 59.9320 , 62.5060 , 64.9590 , 64.0400 , 65.4130 , 69.5030 , 72.2980 , 78.0140 , 79.8928 , 83.5536 , 83.7660 , 91.8530 , 94.8300
(1980-2011)
91.85 928 18,501 31   94.83
Installed Capacity (GWe) 9.2250 , 10.1250 , 10.8750 , 12.4990 , 15.5110 , 18.1940 , 19.3570 , 17.4440 , 18.5200 , 18.5200 , 19.0330 , 19.2830 , 18.9120 , 18.9660 , 18.9660 , 19.0700 , 20.7640 , 21.5510 , 21.6600 , 21.2920 , 21.2330 , 21.3180 , 20.5770 , 20.5770 , 22.1240 , 22.1350 , 22.2150 , 22.5400 , 23.1240 , 24.8460 , 23.7760 , 24.6390
(1980-2011)
23.78 260 5,086 31   24.64
Total Primary Energy (Quadrillion Btu)
Previous Year
Latest Year
   
History
Venezuela
Central & South America
World
Rank
 
Venezuela
Production 5.7659 , 5.6674 , 5.2507 , 5.0320 , 5.0558 , 4.8169 , 5.2145 , 5.1694 , 5.5839 , 5.7662 , 6.3059 , 6.9611 , 6.9551 , 7.2609 , 7.6987 , 8.0787 , 8.6185 , 9.4829 , 9.4481 , 8.5397 , 9.3713 , 9.2293 , 8.1586 , 7.3265 , 8.0623 , 8.0283 , 7.9986 , 7.7145 , 7.6711 , 7.1674 , 6.8840 , 7.1657
(1980-2011)
6.884 30 505 16   7.166
Consumption 1.5883 , 1.7232 , 1.7466 , 1.6837 , 1.7136 , 1.7424 , 1.8868 , 1.9231 , 1.9367 , 2.0622 , 2.0869 , 2.2111 , 2.2178 , 2.0692 , 2.4368 , 2.4699 , 2.5764 , 2.6617 , 2.8539 , 2.6470 , 2.7689 , 3.0305 , 2.9343 , 2.7220 , 2.9367 , 2.9166 , 3.1586 , 3.0662 , 3.6167 , 3.0386 , 3.0722 , 3.2838
(1980-2011)
3.072 27 507 30   3.284
Energy Intensity
(Btu per 2005 U.S. Dollars)
8868.1008 , 9650.5987 , 9714.4188 , 9921.9277 , 10236.7927 , 10624.7503 , 10819.5696 , 10551.5435 , 10008.5622 , 11519.2083 , 10948.4235 , 10571.6939 , 9997.6730 , 9302.3055 , 11218.1375 , 10938.1840 , 11432.6563 , 11110.0530 , 11855.0845 , 11711.4458 , 11815.6578 , 12511.9507 , 13271.7648 , 13385.7360 , 12192.1523 , 10980.8367 , 10827.3338 , 9656.2047 , 10818.3433 , 9373.4032 , 9630.2367 , 9997.9568
(1980-2011)
9,630 5,840 7,401 37   9,998
Carbon Dioxide Emissions (Million Metric Tons of CO₂)
Previous Year
Latest Year
   
History
Venezuela
Central & South America
World
Rank
 
Venezuela
Total from Consumption of Fossil Fuels
94.2653 , 101.5315 , 101.6068 , 96.0946 , 96.1424 , 96.4004 , 104.3279 , 105.7087 , 104.0626 , 108.0178 , 109.7273 , 111.4788 , 111.7218 , 113.5414 , 119.4064 , 124.4079 , 133.2869 , 134.9593 , 142.2899 , 128.6239 , 134.4486 , 148.6957 , 146.6986 , 133.6446 , 143.3813 , 145.8780 , 150.5521 , 152.6701 , 161.7944 , 157.5598 , 174.1574 , 182.6609
(1980-2011)
174.16 1,288 31,502 32   182.66

-- = Not applicable; NA = Not available; E = Estimate value
Sources: EIA. For more detailed data, see International Energy Statistics.

Data last updated: May 30, 2013

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Other International Information

Inter-American Development Bank

International Energy Agency statistics

Joint Organisations Data Initiative (JODI)

United Nations energy statistics

World Bank energy and mining data

International Monetary Fund data and statistics

Eurostat European statistics

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