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Venezuela Oil and Gas Report Q1 2013 - Product Image

Venezuela Oil and Gas Report Q1 2013

  • ID: 2356121
  • December 2012
  • Region: Venezuela
  • 78 pages
  • Business Monitor International

FEATURED COMPANIES

  • BeloVenezolana – Summary
  • Chevron
  • Eni – Summary
  • Others – Summary
  • Perenco – Summary
  • Statoil – Summary
  • MORE

BMI View: Venezuela's long-term oil and gas potential is undeniable, with the country's proven reserves now estimated to be larger than those of Saudi Arabia. Nevertheless, the short-to-medium term outlook is dependent on the government's ability to mitigate many above-ground risks, including the country's poor economic situation. This remains particularly true as Chavez’s re-election makes it likely that current policies will remain in place, including the subjugation of sound energy policy in favour of ambitious and uneconomical social policies. Chavez’s notoriously poor health, however, remains a critical variable.

Indeed, with no clear successor, his death would cause a considerable shock to the system and status quo.

The key trends and developments in Venezuela’s oil & gas sector are:

- We forecast that total oil production of just over 900mn barrels (bbl) in 2012 will hit over 1bn bbl by 2016. This growth in production will come primarily from the country's Orinoco heavy oil belt, where production is set to grow by 35% between now and 2016 – from 2.42mn barrels per day (b/d) to 3.27mn b/d.

- Despite Venezuela's unfavourable READ MORE >

FEATURED COMPANIES

  • BeloVenezolana – Summary
  • Chevron
  • Eni – Summary
  • Others – Summary
  • Perenco – Summary
  • Statoil – Summary
  • MORE

BMI Industry View 5

SWOT Analysis 7

Venezuela Oil and Gas SWOT 7

Industry Forecast Scenario 8

Oil And Gas Reserves 8
Table: Venezuela Proven Oil and Gas Reserves and Total Petroleum Data 2010-2016 8
Table: Venezuela Proven Oil and Gas Reserves and Total Petroleum Data, 2015-2021 9

Oil Supply And Demand 10
Table: Venezuela Oil Production, Consumption and Net Exports, 2010-2016 10
Table: Venezuela Oil Production, Consumption And Net Exports, 2015-2021 11

Gas Supply And Demand 14
Table: Venezuela Gas Production, Consumption And Net Exports,2010-2016 14
Table: Venezuela Gas Production, Consumption And Net Exports, 2015-2021 15

LNG 17

Refining And Oil Products Trade 17
Table: Venezuela Refining - Production and Consumption, 2010-2016 17
Table: Venezuela Refining – Production And Consumption, 2015-2021 18

Revenues/Import Costs 19

Country Oil & Gas Risk/Reward Ratings 20

Venezuela Upstream Ratings 20

Venezuela Downstream Ratings 20

Regional Risk/Reward Ratings 21
Table: Latin American Oil & Gas Risk/Reward Ratings 22
Table: Upstream Risk/Reward Ratings 24
Table: Downstream Risk/Reward Ratings 26

Venezuela Energy Market Overview 27
Table: Venezuela – Upstream Projects Database 28

Oil And Gas Infrastructure 30

Oil Refineries 30
Table: Refineries In Venezuela 30

Oil Pipelines 31

LNG Terminals 31

Gas Pipelines 32

Competitive Landscape 33

Executive Summary 33
Table: Key Players – Argentine Oil And Gas Sector 34
Table: Key Upstream Players 35
Table: Key Downstream Players 35

Company Profiles 36

PdVSA 36

Chevron 40

Total Venezuela 42

Repsol Venezuela 44

BP – Summary 46

Statoil – Summary 46

Eni – Summary 47

Petróleo Brasileiro (Petrobras) – Summary 47

CNPC/Sinopec/CNOOC – Summary 47

Perenco – Summary 48

Galp Energia – Summary 49

BeloVenezolana – Summary 49

Others – Summary 49

Regional Energy Market Outlook 51

Global Energy Market Outlook 56
Table: Global Oil Demand Forecasts – A Comparison 58

Latin America – Regional Appendix 62
Table: Oil Consumption – Historical Data & Forecasts, 2009-2016 (’000b/d) 62
Table: Oil Consumption – Long-Term Forecasts, 2014-2021 (’000b/d) 62
Table: Oil Production – Historical Data & Forecasts, 2009-2016 (’000b/d) 63
Table: Oil Production – Long-Term Forecasts, 2014-2021 (’000b/d) 64
Table: Refining Capacity – Historical Data & Forecasts, 2009-2016 (’000b/d) 64
Table: Refining Capacity – Long-Term Forecasts, 2014-2021 (’000b/d) 65
Table: Gas Consumption – Historical Data & Forecasts, 2009-2016 (bcm) 65
Table: Gas Consumption – Long-Term Forecasts, 2014-2021 (bcm) 66
Table: Gas Production – Historical Data & Forecasts, 2009-2016 (bcm) 66
Table: Gas Production – Long-Term Forecasts, 2014-2021 (bcm) 67
Table: LNG Exports – Historical Data & Forecasts, 2009-2016 (bcm) 67
Table: LNG Exports – Long-Term Forecasts, 2014-2021 (bcm) 68

Methodology And Risks To Forecasts 69

Glossary Of Terms 70
Table: Glossary Of Terms 70

Oil And Gas Risk/Reward Ratings Methodology 72

Ratings Overview 72
Table: BMI’s Oil & Gas Business Environment Ratings – Structure 73

Indicators 73
Table: BMI’s Oil & Gas Upstream Ratings – Methodology 73
Table: BMI’s Oil & Gas Business Environment Downstream Ratings – Methodology 74

BMI Methodology 76

How We Generate Our Industry Forecasts 76

Energy Industry 76

Cross checks 77

Sources 77

Company Profiles
PdVSA
Chevron
Total Venezuela
Repsol Venezuela
BP – Summary
Statoil – Summary
Eni – Summary
Petróleo Brasileiro (Petrobras) – Summary
CNPC/Sinopec/CNOOC – Summary
Perenco – Summary
Galp Energia – Summary
BeloVenezolana – Summary
Others – Summary

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