Venezuela was one of the world's largest producers of oil, and the country with the largest proven oil reserves in the world. Venezuela is a member of OPEC.
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Electricity in Venezuela is predominantly produced from hydroelectricity.
Venezuela was one of the world's largest producers of oil, and the country with the largest proven oil reserves in the world. Venezuela is a member of OPEC.
Electricity in Venezuela is predominantly produced from hydroelectricity.
| Capita | Prim. energy | Production | Export | Electricity | CO2-emission | |
|---|---|---|---|---|---|---|
| Million | TWh | TWh | TWh | TWh | Mt | |
| 2004 | 26.1 | 653 | 2,280 | 1,623 | 72.1 | 128 |
| 2007 | 27.5 | 741 | 2,138 | 1,381 | 84.6 | 144 |
| 2008 | 27.9 | 745 | 2,102 | 1,340 | 85.9 | 146 |
| 2009 | 28.4 | 778 | 2,367 | 1,503 | 89.5 | 155 |
| 2010 | 28.83 | 895 | 2,241 | 1,353 | 94.77 | 183.04 |
| 2012 | 29.28 | 816 | 2,335 | 1,506 | 97.73 | 159.22 |
| 2012R | 29.96 | 888 | 2,318 | 1,405 | 101.88 | 178.28 |
| 2013 | 30.41 | 800 | 2,235 | 1,405 | 98.25 | 155.57 |
| Change 2004-10 | 10.3% | 37.0% | -1,7% | -16,6% | 31.4% | 42.6% |
| Mtoe = 11.63 TWh, Prim. energy includes energy losses 2012R = CO2 calculation criteria changed, numbers updated | ||||||
Venezuela ranked 11th in the world for oil production in 2016; production has since fallen steeply. [2] The largest oil company is Petróleos de Venezuela (PDVSA). Oil fields in the country include Bolivar Coastal Field, Boscán Field, Maracaibo Basin and Orinoco Belt.
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| 2755 | 2704 | 2680 | 2692 | 2864 | 2566 | 2220 | 1631 | 1022 | 640 | 654 |
In 2023, Venezuela held the world's largest proven oil reserves at 303 billion barrels, accounting for 17% of global reserves, mostly extra-heavy crude from the Orinoco Belt. Despite this, production was only 0.8% of the global total, dropping to 742,000 barrels per day, a 70% decline from 2013. Production rose by 13% in 2021 and 18% in 2022 with help from Iran, China, and Chevron after some sanctions were eased. PDVSA, the state oil company, faces issues like heavy government levies, underinvestment, mismanagement, and a lack of skilled personnel, reducing reinvestment and production. Refineries operate below capacity due to maintenance issues and lack of feedstock. Venezuela relies on fuel imports from Iran and China due to domestic shortages. A territorial dispute with Guyana over the Essequibo region heightened tensions, but both countries agreed to seek a diplomatic resolution. [4]
In 2023, Venezuela held 195 trillion cubic feet (Tcf) of natural gas reserves, making up 73% of South America's total. Most of this gas is associated with crude oil, with 80% produced as a by-product. Despite these vast reserves, much of Venezuela's natural gas is underutilized, used to support mature oil fields or flared due to inadequate infrastructure. Production peaked at 1.12 Tcf in 2001 but fell to 563 billion cubic feet (Bcf) by 2021, hampered by poor investment and lack of infrastructure. Domestic consumption peaked at 936 Bcf in 2015 but dropped to 563 Bcf by 2021 due to economic decline. Venezuela is a major gas flarer, with flaring increasing fourfold from 2012 to 2021, reaching 706 Bcf in 2022. Government-regulated prices and subsidies keep natural gas prices below market rates, further limiting investment in the sector. [4]
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| 30.2 | 31.9 | 30.6 | 31.8 | 36.1 | 37.2 | 38.6 | 31.6 | 25.6 | 21.6 | 24.0 |
In 2021, Venezuela held South America's fourth-largest coal reserves, totaling 806 million short tons. The main coalfields are in Zulia State, near the Colombian border. Coal plays a minor role in Venezuela's energy mix, contributing 0.2% to total energy production and 0.1% to consumption. The coal industry faces challenges such as outdated infrastructure and limited investment, leading to a production decline of 16% annually from 2001 to 2021, after peaking at nearly 8.7 million short tons in 2000. By 2021, production was 174 thousand short tons, entirely bituminous coal. Most of Venezuela's coal is used domestically in industrial processes. Consumption peaked at 319,000 short tons in 2012 but dropped to 67,000 short tons by 2021 due to economic decline. [4]
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| 0.08 | 0.06 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | <0.005 |
Hydro power provided 74% of domestic electricity in 2008. Venezuela produced 87 TWh hydro power in 2008, 2.6% of the world total. Venezuela was top 8th in hydro electricity in 2008. [5]
Japan is a major consumer of energy, ranking fifth in the world by primary energy use. Fossil fuels accounted for 88% of Japan's primary energy in 2019. Japan imports most of its energy due to scarce domestic resources. As of 2022, the country imports 97% of its oil and is the larger liquefied natural gas (LNG) importer globally.
The energy policy of India is to increase the locally produced energy in India and reduce energy poverty, with more focus on developing alternative sources of energy, particularly nuclear, solar and wind energy. Net energy import dependency was 40.9% in 2021-22. The primary energy consumption in India grew by 13.3% in FY2022-23 and is the third biggest with 6% global share after China and USA. The total primary energy consumption from coal, crude oil, natural gas, nuclear energy, hydroelectricity and renewable power is 809.2 Mtoe in the calendar year 2018. In 2018, India's net imports are nearly 205.3 million tons of crude oil and its products, 26.3 Mtoe of LNG and 141.7 Mtoe coal totaling to 373.3 Mtoe of primary energy which is equal to 46.13% of total primary energy consumption. India is largely dependent on fossil fuel imports to meet its energy demands – by 2030, India's dependence on energy imports is expected to exceed 53% of the country's total energy consumption.
Denmark has considerable sources of oil and natural gas in the North Sea and ranked as number 32 in the world among net exporters of crude oil in 2008. Denmark expects to be self-sufficient with oil until 2050. However, gas resources are expected to decline, and production may decline below consumption in 2020, making imports necessary. Denmark imports around 12% of its energy.
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Venezuela has the largest conventional oil reserves and the second-largest natural gas reserves in the Western Hemisphere. In addition Venezuela has non-conventional oil deposits approximately equal to the world's reserves of conventional oil. Venezuela is also amongst world leaders in hydroelectric production, supplying a majority of the nation's electrical power through the process.
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This article incorporates text from this source, which is in the public domain .| Africa | |||||
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