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Venezuela Oil and Gas Report Q2 2016

  • ID: 3616123
  • February 2016
  • Region: Venezuela
  • 114 pages
  • Business Monitor International
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The report predicts our cautious outlook for Venezuela's oil and gas sector despite vast belowground potential and ambitious production plans by state-owned PDVSA. The report predicts Venezuela to continue to underperform given the large scope of above-ground challenges, including excessive political interference, chronic underinvestment, an unattractive operating environment and the precarious financial situation of PDVSA. Moreover, the sustained fall in global oil prices will deteriorate production growth prospects as both PDVSA and international investors face declining revenues and a reduction in available capex funds.

Latest Updates And Key Forecasts

- Our crude production forecast for 2016 predicts a 3.0% y-o-y decline amid sustained weakness in crude oil markets. This will negatively impact available investment in Venezuela's upstream sector as the government contends with its significant public sector spending plans.

- The landmark victory of the opposition party in Venezuela's legislative elections held on December 6 marks a clear break from the country's recent past, and will serve as a strong mandate for reform. While this marks the first power shift away from the ruling party in nearly 17 years, the United Socialist Party of Venezuela (PSUV)'s dominance in other branches of government and divisions within the opposing coalition will preclude a swift change in policy direction.

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Industry View
Table: Headline Forecasts (Venezuela 2014-2020)

Latest Updates And Key Forecasts

SWOT

Industry Forecast

Upstream Exploration

Latest Updates

Structural Trends

Upstream Projects
Table: VenezuelaMajor Upstream Projects

Upstream ProductionOil

Latest Updates

Structural Trends:
Table: Oil Production (Venezuela 2014-2019)
Table: Oil Production (Venezuela 2020-2025)

Upstream ProductionGas

Latest Updates

Structural Trends
Table: Gas Production (Venezuela 2014-2019)
Table: Gas Production (Venezuela 2020-2025)

Refining

Latest Updates

Structural Trends
Table: Refining Capacity and Refined Products Production (Venezuela 2014-2019)
Table: Refining Capacity and Refined Products Production (Venezuela 2020-2025)

Refined Fuels Consumption

Latest Updates

Structural Trends
Table: Refined Products Consumption (Venezuela 2014-2019)
Table: Refined Products Consumption (Venezuela 2020-2025)

Gas Consumption

Latest Updates

Structural Trends
Table: Gas Consumption (Venezuela 2014-2019)
Table: Gas Consumption (Venezuela 2020-2025)

TradeOil

Crude Oil

Latest Updates

Structural Trends
Table: Crude Oil Net Exports (Venezuela 2014-2019)
Table: Crude Oil Net Exports (Venezuela 2020-2025)

Refined Products

Latest Updates

Structural Trends
Table: Refined Fuels Net Exports (Venezuela 2014-2019)
Table: Refined Fuels Net Exports (Venezuela 2020-2025)

TradeGas (Pipeline And LNG)

Latest Updates

Structural Trends
Table: Gas Net Exports (Venezuela 2014-2019)
Table: Gas Net Exports (Venezuela 2020-2025)

Industry Risk Reward Index

Latin AmericaRisk/Reward Index
Table: Latin AmericaComposite Risk/Reward Index, Out of 100

Composite RRI: Sector Shifts Continue To Take Shape

Upstream RRI: Few Shifts, But Changes Loom
Table: Latin AmericaUpstream Risk/Reward Index, Out of 100

Downstream RRI: Medium-Term Outlook Reinforces Current Dynamics
Table: Latin America Downstream Risk/Reward Index, Out of 100

VenezuelaRisk/Reward Index

Venezuela Upstream IndexOverview

Downstream IndexOverview

Market Overview

Venezuela Energy Market Overview

Overview

State Role

Licensing And Regulation

Government Policy

International Energy Relations

Oil And Gas Infrastructure

Oil Refineries
Table: Active Refineries In Venezuela

Oil Pipelines

LNG Terminals

Gas Pipelines

Competitive Landscape

Competitive Landscape Summary
Table: Key PlayersVenezuela Oil & Gas Sector
Table: Key Upstream Players
Table: Key Downstream Player

Company Profile

PDVSA

Chevron

Repsol Venezuela

Total Venezuela

Other Summaries

Regional Overview

Latin America Overview
Table: Latin America Oil & Gas Production, Refining CapacityTrade

Glossary
Table: Glossary Of Terms

Methodology

Industry Forecast Methodology

Source

Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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