Country report

Venezuela oil supply summary

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Report summary

We have embedded our written Country Report content in to the Oil Supply Tool. To access the Country Reports open the Oil Supply tool from the Tools & Models listing on the Wood Mackenzie Portal and select the Country Report category. There are six report categories which integrate the live data to new visualisations and associated text.

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Table of contents

  • Executive summary
    • Venezuela is the third largest oil and NGL producer in Latin America:
    • Steep declines near term due to slow ramp up of heavy oil projects:
    • Hydrocarbon industry highly politicised, the government has control through NOC, PDVSA:
    • The government has steadily increased its take of revenues, fiscal terms changeable:

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