Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020

Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020

Summary

This profile is the essential source for top-level energy industry data and information. The report provides an overview of the oil industry in Venezuela. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for the industry. It also provides information relating to the oil assets (oil fields, refineries, pipelines and storage terminals) in Venezuela. The report also analyses the fiscal regime relevant to the oil assets in Venezuela and compares the investment environment in Venezuela with other countries in the region. The profiles of the major companies operating in the oil sector in Venezuela together with the latest news and deals are also included in the report.

Scope

- Historic and forecast data relating to exploration and production (E&P) production, consumption, imports, exports and reserves are provided for the oil industry for the period 1995-2020.
- Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 for the period 1995-2020.
- Operator and equity details for major oil assets in Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020.
- Key information relating to market regulations, key energy assets and the key companies operating in the Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020’s oil industry.
- Detailed information on key fiscal terms (such as rents, bonuses, royalty, cost recovery, profit oil, petroleum and corporate taxes) pertaining the geography is also provided. A sample calculation detailing how fiscal terms apply to a typical asset in the regime is included.
- Information on the top companies in the Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 including business description, strategic analysis, and financial information. Key companies include Petroleos de Venezuela, Chevron Corporation and Conoco Philips.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.

Reasons to buy

- Gain a strong understanding of the country’s energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Evaluate the attractiveness of the geography for oil investment in the light of government policies and the fiscal environment.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Understand the geography’s policies and fiscal terms, and their impact on contractor’s profits from upstream oil assets.
- Assess your competitor’s major crude oil assets and their performance.
- Analyze the latest news and financial deals in the oil sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in the country. SHOW LESS READ MORE >

1
1.1 List of Tables
1.2 List of Figures
2 Venezuela Energy Sector
2.1 Venezuela Energy Sector, Market Overview
2.2 Venezuela Energy Sector, Crude Oil
2.2.1 Venezuela Crude Oil, Overview
2.2.2 Venezuela Crude Oil, Supply and Demand Balance
2.2.3 Venezuela Crude Oil, Regulatory Structure
2.2.4 Venezuela Crude Oil, Infrastructure
3 Venezuela Petroleum Fiscal Regime
3.1 Venezuela Petroleum Fiscal Environment
3.2 License Terms
3.3 Key Fiscal Terms
3.4 Sample Cashflows Calculations
4 Venezuela Oil Upstream Investment Environment Benchmarking
4.1 Introduction
4.2 The Overall Ranking
4.3 Upstream Fiscal Attractiveness
4.3.1 Maximum Government Take Index
4.3.2 Maximum State Participation Index
4.3.3 Domestic Market Obligation Index
4.4 Oil Sector Performance
4.4.1 Exploration Activity
4.4.2 Oil Production
4.4.3 Oil Reserves
4.4.4 Oil Consumption
4.4.5 Refining Industry
4.5 Economic Performance
4.5.1 GDP Growth Index
4.5.2 FDI Confidence Index
4.5.3 Balance of Trade Index
4.6 Socio-Political Performance
4.6.1 Democracy Index
4.6.2 Governance Index
5 Venezuela Exploration and Production Sector
5.1 Venezuela Exploration and Production Sector, Country Snapshot
5.1.1 Venezuela Exploration and Production Sector, Key Data
5.1.2 Venezuela Exploration and Production Sector, Crude Oil Assets Map
5.2 Venezuela Exploration and Production Sector, Gross Crude Oil Production
5.2.1 Venezuela Exploration and Production Sector, Gross Crude Oil-Historical Production
5.2.2 Venezuela Exploration and Production Sector, Gross Crude Oil Production by Assets
5.2.3 Venezuela Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company
5.2.4 Venezuela Exploration And Production Sector, Market Share (%) based on Gross Equity Weighted Crude Oil Production
5.3 Venezuela Exploration and Production Sector, Gross Crude Oil Forecasts
5.3.1 Venezuela Exploration and Production Sector, Gross Crude Oil Forecasted Production
5.4 Venezuela Exloration And Production Sector, Crude Oil Asset Details
5.4.1 Venezuela Exploration And Production Sector, Active Crude Oil Asset Details
5.4.2 Venezuela Exploration And Production Sector, Planned Crude Oil Asset Details
6 Venezuela Pipeline Sector
6.1 Venezuela Pipeline Sector, Key Data
6.2 Venezuela Pipeline Sector, An Overview
6.3 Venezuela Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies
6.4 Venezuela Pipeline Sector, Comparison Key Petroleum Product Pipeline Companies
6.5 Venezuela Pipeline Sector, Crude Oil Pipelines
6.6 Venezuela Pipeline Sector, Petroleum Product Pipelines
7 Venezuela Refining Sector
7.1 Venezuela Refining Sector, Key Data
7.2 Venezuela Refining Sector, An Overview
7.3 Venezuela Refining Sector, Total Refining Capacity
7.4 Venezuela Refining Sector, Capacity - Wise Market Share by Company
7.5 Venezuela Refining Sector, Crude Distillation Unit Capacity
7.6 Venezuela Refining Sector, Coking Capacity
7.7 Venezuela Refining Sector, Fluid Catalytic Cracking Capacity
8 Venezuela Oil and Chemicals Storage Sector
8.1 Venezuela Oil and Chemicals Storage Sector, Key Data
8.2 Venezuela Oil and Chemicals Storage Sector, An Overview
8.2.1 Venezuela Oil and Chemicals Storage Sector, Total Storage Capacity
8.3 Venezuela Oil and Chemicals Storage Sector, Capacity - Wise Market Share by Company
8.4 Venezuela, Oil and Chemicals Storage Sector, Storage Capacity
9 Profile of Petroleos de Venezuela S.A.
9.1 Petroleos de Venezuela S.A., Key Information
9.2 Petroleos de Venezuela S.A., Company Overview
9.3 Petroleos de Venezuela S.A., Business Description
9.3.1 Petroleos de Venezuela S.A., Business Description, Business Overview
9.4 Petroleos de Venezuela S.A., SWOT Analysis
9.4.1 Petroleos de Venezuela S.A., SWOT Analysis, Overview
9.4.2 Petroleos de Venezuela S.A., SWOT Analysis, Strengths
9.4.3 Petroleos de Venezuela S.A., SWOT Analysis, Weaknesses
9.4.4 Petroleos de Venezuela S.A., SWOT Analysis, Opportunities
9.4.5 Petroleos de Venezuela S.A., SWOT Analysis, Threats
9.5 Petroleos de Venezuela S.A., Revenue Analysis
9.5.1 Petroleos de Venezuela S.A., Revenue by Segment
9.5.2 Petroleos de Venezuela S.A., Revenue by Geography
10 Profile of Chevron Corporation
10.1 Chevron Corporation, Key Information
10.2 Chevron Corporation, Company Overview
10.3 Chevron Corporation, Business Description
10.3.1 Chevron Corporation, Business Description, Business Overview
10.3.2 Chevron Corporation, Business Description, Chemicals
10.3.3 Chevron Corporation, Business Description, Downstream
10.3.4 Chevron Corporation, Business Description, Others
10.3.5 Chevron Corporation, Business Description, Upstream Segment
10.4 Chevron Corporation, SWOT Analysis
10.4.1 Chevron Corporation, SWOT Analysis, Overview
10.4.2 Chevron Corporation, SWOT Analysis, Strengths
10.4.3 Chevron Corporation, SWOT Analysis, Weaknesses
10.4.4 Chevron Corporation, SWOT Analysis, Opportunities
10.4.5 Chevron Corporation, SWOT Analysis, Threats
10.5 Chevron Corporation, Revenue Analysis
10.5.1 Chevron Corporation, Revenue by Segment
10.5.2 Chevron Corporation, Revenue by Geography
10.6 Chevron Corporation, Financial and Operational Review
10.6.1 Financial Statements
10.6.2 Financial Ratios
11 Profile of ConocoPhillips
11.1 ConocoPhillips, Key Information
11.2 ConocoPhillips, Company Overview
11.3 ConocoPhillips, Business Description
11.3.1 ConocoPhillips, Business Description, Business Overview
11.3.2 ConocoPhillips, Business Description, Chemicals Segment
11.3.3 ConocoPhillips, Business Description, Emerging Businesses Segment
11.3.4 ConocoPhillips, Business Description, Exploration and Production Segment
11.3.5 ConocoPhillips, Business Description, LUKOIL Investment
11.3.6 ConocoPhillips, Business Description, Midstream Segment
11.3.7 ConocoPhillips, Business Description, Refining, Marketing and Transportation
11.4 ConocoPhillips, SWOT Analysis
11.4.1 ConocoPhillips, SWOT Analysis, Overview
11.4.2 ConocoPhillips, SWOT Analysis, Strengths
11.4.3 ConocoPhillips, SWOT Analysis, Weaknesses
11.4.4 ConocoPhillips, SWOT Analysis, Opportunities
11.4.5 ConocoPhillips, SWOT Analysis, Threats
11.5 ConocoPhillips, Revenue Analysis
11.5.1 ConocoPhillips, Revenue by Segment
11.5.2 ConocoPhillips, Revenue by Geography
11.6 ConocoPhillips, Financial and Operational Review
11.6.1 Financial Statements
11.6.2 Financial Ratios
12 Financial Deals Landscape
12.1 Detailed Deal Summary
12.1.1 Acquisition
12.1.2 Debt Offerings
12.1.3 Partnerships
12.1.4 Asset Transactions
13 Recent Developments
13.1 License Rounds
13.1.1 Jul 27, 2009: Venezuela Defers Orinoco Oil Tender: Ramirez Says
13.1.2 Mar 06, 2009: Venezuela Postpones Orinoco Bids By Two Weeks
13.2 License Awards
13.2.1 Jul 06, 2009: Total, CNPC To Bid For Two Oil Blocks In Venezuela
13.3 Strategy and Business Expansion
13.3.1 Jun 11, 2009: Pertamina Expands Oil, Gas Exploration Activities To Overseas
13.3.2 May 27, 2009: PDVSA Steps Up Exploration And Production Plans
13.3.3 May 12, 2009: PetroChina Plans To Construct Two Refineries On Venezuelan Crude
13.3.4 Apr 28, 2009: PDVSA To Select Partners For Developing Carabobo Area In Venezuela
13.3.5 Feb 12, 2009: PDVSA To Restore Oil Ventures With Foreign Partners To Cut Cost
13.4 Drilling and Production Updates
13.4.1 Jul 10, 2009: PDVSA Updates On PTL-7 Well At Las Piedritas Field In Venezuela
13.4.2 Jun 10, 2009: Chevron's Cardon Well In Gulf Of Venezuela May Be Dry
13.4.3 Jun 04, 2009: PDVSA Starts Operations In Drilling Rig Corpoven 8
13.4.4 May 06, 2009: PDVSA Announces First Production Test At Cruz de Mayo Gas Well In Dragon Offshore Field, Venezuela
13.5 Financial Announcements
13.5.1 Jun 07, 2009: PDVSA Net Profit Up 50.06% In 2008
13.6 Other Significant Developments
13.6.1 Jul 26, 2009: Venezuela To Spend In Iran's Oil Sector: Nozari says
13.6.2 Jul 22, 2009: PDVSA Completes Acquisition Of 3D Seismic Data In Paria Peninsula, Venezuela
13.6.3 Jul 14, 2009: Petrobras To Participate In Carabobo Drilling Tender, Venezuela
13.6.4 Jul 07, 2009: Valero Energy's Aruba Refinery Units Still In Operations
13.6.5 Jun 08, 2009: Caribbean Heads To Discuss Oil Supply Projects
13.6.6 Jun 03, 2009: PDVSA's El Palito Refinery Started Up The Distillation And Specialties Unit
13.6.7 May 08, 2009: Venezuelan Government Seizes Williams' Two Assets
13.6.8 Apr 07, 2009: Iran And Venezuela To Construct LNG Plant In Venezuela
13.6.9 Apr 06, 2009: Japan, Venezuela Sign Energy Cooperation Deal
13.6.10 Apr 01, 2009: Iran Plans To Construct Joint Oil Refinery In Syria
13.6.11 Mar 27, 2009: PDVSA To Cut 40% On Its Investment Plan For 2009
13.6.12 Mar 23, 2009: South Korea Signs MoU With Venezuela For Collaboration In Oil And Gas Sectors
13.6.13 Mar 19, 2009: Japan, Venezuela To Expand Ties In Energy Sector
13.6.14 Mar 17, 2009: Venezuela Adds 20.96 Billion Barrels To Crude Reserves
13.6.15 Mar 16, 2009: Venezuela Closes Deal For Russian Companies Exploring Oil In Orinoco Belt
13.6.16 Mar 06, 2009: Venezuela Starts Paying Debts To Oil Service Companies
14 Appendix
14.1 Methodology
14.1.1 Coverage
14.1.2 Secondary Research
14.1.3 Primary Research
14.1.4 E&P Forecasts
14.1.5 Midstream Forecasts
14.1.6 Expert Panel Validation
14.2 Contact Us
14.3 About Us
14.4 Disclaimer

Executive Summary

1.1 List of Tables
Table 1: Venezuela, Historical and Forecasted Production and Consumption of Crude Oil, 1996-2020 13
Table 2: Venezuela, Historical and Forecasted Exports of Crude Oil, 1996-2020 15
Table 3: Venezuela, Historical Reserves of Crude Oil, 1996-2008 17
Table 4: South and Central America, Investment Benchmarking, Overall Country Rankings, 2008 24
Table 5: South and Central America, Investment Benchmarking, Upstream Fiscal Attractiveness, 2008 25
Table 6: South and Central America, Investment Benchmarking, Oil Sector Performance, 2008 27
Table 7: South and Central America, Investment Benchmarking, Economic Performance, 2008 32
Table 8: South and Central America, Country Standings, Economic Performance, 2008 32
Table 9: South and Central America, Investment Benchmarking, Socio-Political Performance, 2008 34
Table 10: South and Central America, Country Standings, Socio-Political Performance, 2008 35
Table 11: Venezuela, Crude Oil Key Statistics, 2008 37
Table 12: Venezuela, Total Gross Crude Oil Production (MMBBLs), 2001-2008 38
Table 13: Venezuela, Gross Crude Oil Production (MMBBLs), by Assets, 2001-2008 39
Table 14: Venezuela, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company, 2001-2008 41
Table 15: Venezuela, Market Share (%) based on Gross Equity Weighted Crude Oil Production, 2001-2008 42
Table 16: Venezuela, Gross Crude Oil Production (MMBBLs), Forecast by Assets, 2009-2014 44
Table 17: Venezuela, Active Oil Field Assets Details 46
Table 18: Venezuela, Planned Oil Field Assets Details 48
Table 19: Venezuela, Pipeline Key Statistics, 2008 49
Table 20: Venezuela, Crude Oil Pipeline Length by Company (Km), 2008 49
Table 21: Venezuela, Petroleum Product Pipeline Length by Company (Km), 2008 50
Table 22: Venezuela, Crude Oil Pipelines, 2008 51
Table 23: Venezuela, Crude Oil Pipelines, 2008 (Contd.) 52
Table 24: Venezuela, Petroleum Product Pipelines, 2008 53
Table 25: Venezuela, Refinery Key Statistics, 2008 54
Table 26: Venezuela, Total Refining Capacity (MMTPA), 2000- 2013 54
Table 27: Venezuela, Refining Capacity-Wise Market Share By Company 55
Table 28: Venezuela, Crude Distillation Unit Capacity (MMTPA), 2000-2013 56
Table 29: Venezuela, Coking Unit Capacity (MMTPA), 2000-2013 56
Table 30: Venezuela, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2013 57
Table 31: Venezuela, Oil Storage Key Statistics, 2008 58
Table 32: Venezuela, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2013 58
Table 33: Venezuela, Oil and Chemicals Storage Capacity Company-wise (Thousand M3), 2000-2013 59
Table 34: Venezuela, Oil and Chemicals Storage Capacity (Thousand M3), 2000-2013 60
Table 35: Petroleos de Venezuela S.A., Key Facts 61
Table 36: Petroleos de Venezuela S.A., SWOT Analysis 63
Table 37: Chevron Corporation, Key Facts 69
Table 38: Chevron Corporation, SWOT Analysis 75
Table 39: Chevron Corporation, Revenue by Segment, USD Million, 2003-2007 80
Table 40: Chevron Corporation, Revenue by Geography, USD Million, 2003-2007 81
Table 41: Chevron Corporation, Financial Statements, USD Million, 2003-2007 82
Table 42: Chevron Corporation, Financial Ratios, USD Million, 2003-2007 83
Table 43: ConocoPhillips, Key Facts 84
Table 44: ConocoPhillips, SWOT Analysis 91
Table 45: ConocoPhillips, Revenue by Segment, USD Million, 2003-2007 95
Table 46: ConocoPhillips, Revenue by Geography, USD Million, 2003-2007 96
Table 47: ConocoPhillips, Financial Statements, USD Million, 2003-2007 96
Table 48: ConocoPhillips, Financial Ratios, USD Million, 2003-2007 97
Table 49: PDVSA To Acquire 18% Interest In Petroritupano 98
Table 50: PetroFalcon Acquires Lundin Latina de Petroleos From Lundin Petroleum 99
Table 51: PDVSA Raises Remaining $1.58 Billion In Bond Offering 100
Table 52: PetroChina Forms Joint Venture With Petroleos de Venezuela 101
Table 53: PDVSA, Marubeni, ITOCHU, Mitsubishi, Mitsui To Form Joint Venture 102
Table 54: Rosneft, Gazprom, Lukoil, TNK-BP And Surgutneftegaz Forms Joint Venture With PDVSA 103
Table 55: Petrovietnam To Form A Joint Venture With Petroleos de Venezuela 104
Table 56: Gazprom Enters Into Partnership With Petroleos de Venezuela 105
Table 57: Eni To Form Partnership With Petroleos de Venezuela 106
Table 58: Petroleos de Venezuela Enters Into Partnership To Develop Offshore Natural Gas Deposits 107
Table 59: PDVSA Plans To Enter Into Partnership With Ecopetrol 109
Table 60: Petroleos de Venezuela Forms Joint Venture With ONGC Videsh 110
Table 61: PDVSA Servicios Forms Joint Venture With China National Petroleum 111
Table 62: Eni And Petroleos de Venezuela Form Joint Venture 112
Table 63: Total Signs Two Heavy Oil Study Agreements With PDVSA In Venezuela 113
Table 64: PetroSA To Acquire Oil-Producing Asset In Venezuela 114
Table 65: Vinccler To Acquire 25% Interest In Cardon IV Block From Repsol YPF 115

Petroleos de Venezuela S.A.
Chevron Corporation
ConocoPhillips