Country report
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17 Pages

Venezuela oil supply summary

Venezuela oil supply summary

Report summary

Liquids production capacity averaged 2.5 million b/d in 2015. Despite political and fiscal instability, oil the country has been able to maintain its position as a key oil exporter. Continued development of the Faja heavy oil reserves will help increase production capacity in the long term. However, severe financial constraint, exacerbated by the low oil price, could put this growth at risk.

What's included?

This report includes 1 file(s)

  • Venezuela oil supply summary PDF - 1.54 MB 17 Pages, 3 Tables, 7 Figures


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream supply issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream supply report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Policy and regulation
    • Political framework
    • Position in OPEC
    • Increases in the level of state participation and government take
    • Fiscal terms
  • Supply
    • Risks and uncertainties
    • Commercial developments
      • Key commercial fields – onstream and under development
    • Faja initiative
      • Constraints to Faja development
    • Reserves growth
    • Other discoveries
    • Yet-to-find
  • Infrastructure
    • Refining
  • Quality
    • Marketed blends
    • Crude quality outlook

In this report there are 10 tables or charts, including:

  • Executive summary
    • Oil/NGL production outlook and world ranking
  • Policy and regulation
  • Supply
    • Supply: Image 1
    • Overall oil/NGL production outlook to 2035*
    • Supply: Table 1
    • Main oil/NGL infrastructure - western Venezuela
    • Main oil/NGL infrastructure - eastern Venezuela
    • Key other discoveries
  • Infrastructure
  • Quality
    • Quality: Table 1
    • Crude quality distribution
    • Crude quality distribution
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