{{Short description|none}} <!-- "none" is preferred when the title is already sufficiently detailed; see [[WP:SDNONE]] --> {{Use dmy dates|date=August 2021}}
'''Energy in Venezuela''' is dominated by [[fossil fuel]]s, particularly [[oil]] and [[natural gas]], while [[hydropower]] plays a major role in the production of [[electricity]], with smaller contributions from [[Renewable resource|renewable sources]] such as [[Biodegradable waste|bio waste]]. [[Venezuela]] was one of the [[List of countries by oil production|world's largest producers of oil]], and the country with the [[List of countries by proven oil reserves|largest proven oil reserves in the world]].Venezuela is a member of [[OPEC]].
== Overview == {| class="wikitable" style="text-align:right" |+ Energy in Venezuela<ref name=IEA2015>[[International Energy Agency|IEA]] Key World Energy Statistics Statistics [http://www.iea.org/publications/freepublications/publication/KeyWorld_Statistics_2015.pdf 2015] {{Webarchive|url=https://web.archive.org/web/20160304040322/http://www.iea.org/publications/freepublications/publication/KeyWorld_Statistics_2015.pdf |date=4 March 2016 }}, [http://www.iea.org/publications/freepublications/publication/keyworld2014.pdf 2014 (2012R as in November 2015] {{Webarchive|url=https://web.archive.org/web/20150405035039/http://www.iea.org/publications/freepublications/publication/keyworld2014.pdf |date=5 April 2015 }} + 2012 as in March 2014 is comparable to previous years statistical calculation criteria, [http://www.iea.org/publications/freepublications/publication/KeyWorld2013.pdf 2013] {{Webarchive|url=https://web.archive.org/web/20140902105825/http://www.iea.org/publications/freepublications/publication/KeyWorld2013.pdf |date=2 September 2014 }}, [http://www.iea.org/publications/freepublications/publication/kwes.pdf 2012] {{Webarchive|url=https://web.archive.org/web/20130309143010/http://www.iea.org/publications/freepublications/publication/kwes.pdf |date=9 March 2013 }}, [http://www.iea.org/textbase/nppdf/free/2011/key_world_energy_stats.pdf 2011] {{Webarchive|url=https://web.archive.org/web/20111027013037/http://www.iea.org/textbase/nppdf/free/2011/key_world_energy_stats.pdf |date=27 October 2011 }}, [http://www.iea.org/textbase/nppdf/free/2010/key_stats_2010.pdf 2010] {{Webarchive|url=https://web.archive.org/web/20101011091637/http://www.iea.org/textbase/nppdf/free/2010/key_stats_2010.pdf |date=11 October 2010 }}, [http://www.iea.org/textbase/nppdf/free/2009/key2009.pdf 2009] {{Webarchive|url=https://web.archive.org/web/20131007042901/http://www.iea.org/textbase/nppdf/free/2009/key2009.pdf |date=7 October 2013 }}, [http://www.iea.org/textbase/nppdf/free/2006/key2006.pdf 2006] {{Webarchive|url=https://web.archive.org/web/20091012043312/http://www.iea.org/textbase/nppdf/free/2006/key2006.pdf |date=12 October 2009 }} [[International Energy Agency|IEA]] October, crude oil p. 11, coal p. 13 gas p. 15</ref> |- ! ! Capita ! Prim. energy ! Production ! Export ! Electricity ! CO<sub>2</sub>-emission |- ! ! Million ! TWh ! TWh ! TWh ! TWh ! Mt |- | align="left" | 2004 || 26.1 || 653 || 2,280 || 1,623 || 72.1 || 128 |- | align="left" | 2007 || 27.5 || 741 || 2,138 || 1,381 || 84.6 || 144 |- | align="left" | 2008 || 27.9 || 745 || 2,102 || 1,340 || 85.9 || 146 |- | align="left" | 2009 || 28.4 || 778 || 2,367 || 1,503|| 89.5 || 155 |- | align="left" | 2010 || 28.83 || 895 || 2,241 || 1,353 || 94.77||183.04 |- | align="left" | 2012 || 29.28 || 816 || 2,335 || 1,506 || 97.73 || 159.22 |- | align="left" | 2012R || 29.96 || 888 ||2,318 || 1,405 || 101.88 || 178.28 |- | align="left" | 2013 || 30.41 || 800 || 2,235 || 1,405 || 98.25 || 155.57 |- | align="left" | Change 2004-10 || 10.3% || 37.0% || -1,7% || -16,6% || 31.4% || 42.6% |- | align="left" colspan=7 | <small> Mtoe = 11.63 TWh, Prim. energy includes energy losses </small> <small>2012R = CO2 calculation criteria changed, numbers updated </small> |}
== Oil == {{see also|Oil reserves in Venezuela|History of the Venezuelan oil industry}} In 1878, a group of Venezuelan entrepreneurs founded the first [[oil]] company in Venezuela<ref>{{Cite journal |url=https://www.sciencedirect.com/science/article/pii/S1364032119301078 |date=2019-05-01 |last=Pietrosemoli|first=Licia|last2=Rodríguez-Monroy|first2=Carlos|title=The Venezuelan energy crisis: Renewable energies in the transition towards sustainability|journal=Renewable and Sustainable Energy Reviews|volume=105|pages=415–426|doi=10.1016/j.rser.2019.02.014|issn=1364-0321|url-access=subscription}}</ref>'''.''' Venezuela ranked 11th in the world for oil production in 2016; production has since fallen steeply.<ref>{{Cite web|url=https://oilprice.com/Energy/Crude-Oil/Venezuelas-Oil-Production-Set-For-Another-Drop.html#|title=Venezuela's Oil Production Set for Another Drop}}</ref> 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]]. {| class="wikitable" border="1" |+Oil production 2011-2021 ('''kb/d''')<ref name=":122">{{Cite web |first= |date=2022 |title=bp Statistical Review of World Energy |url=https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2022-full-report.pdf |access-date=19 June 2024 |website=www.bp.com |page= |edition=71st}}</ref>{{Rp|page=15}} |- align="center" style="background:#d2b48c;" |'''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 [[Heavy crude oil|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 Corporation|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. Venezuela's [[List of countries by oil exports|oil exports]] reached their peak in 1998 and have been in decline since.<ref name=":03"/> 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.<ref name=":0">{{Cite web |date=February 8, 2024 |title=Venezuela analysis |url=https://www.eia.gov/international/analysis/country/VEN |website=www.eia.gov}}{{source-attribution}}</ref>
Venezuela is expected to run out of [[Petroleum|crude oil]] in 390 years, making it one of the countries that will be able to continue producing it after other countries run out of their oil resources. In Venezuela, fossil fuels account fr more than 80% of total [[energy consumption]].<ref name=":03">{{Cite journal |last=Nahrin|first=Rifat|last2=Rahman|first2=Md. Hasanur|last3=Majumder|first3=Shapan Chandra|last4=Esquivias|first4=Miguel Angel|date=2023-01-18|title=Economic Growth and Pollution Nexus in Mexico, Colombia, and Venezuela (G-3 Countries): The Role of Renewable Energy in Carbon Dioxide Emissions|url=https://www.mdpi.com/1996-1073/16/3/1076|journal=Energies|language=en|volume=16|issue=3|page=1076|doi=10.3390/en16031076|doi-access=free|issn=1996-1073|archive-url=http://web.archive.org/web/20240420110804/https://www.mdpi.com/1996-1073/16/3/1076|archive-date=2024-04-20}}</ref>
== Natural gas == 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 flare]]r, 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.<ref name=":0" /> {| class="wikitable" border="1" |+Natural gas production 2011-2021 ('''billion cubic metres''')<ref name=":122" />{{Rp|page=29}} |- align="center" style="background:#ef8e39;" |'''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 |}
== Coal == In 2021, Venezuela held South America's fourth-largest [[coal]] reserves, totaling 806 million [[short ton]]s. The main coalfields are in [[Zulia|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.<ref name=":0" /> {| class="wikitable" border="1" |+Coal production 2011-2021 ('''Exajoules''')<ref name=":122" />{{Rp|page=38}} |- align="center" style="background:#dcdcdc;" |'''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 |}
== Electricity == [[File:Caruachi Dam in Venezuela.JPG|thumb|[[Caruachi Dam]], [[Caroní River]] in [[Bolívar (state)|Bolivar state]], Venezuela (2006) 12 [[TWh]]/year]] {{Main|Electricity sector in Venezuela}}
=== Hydroelectricity ===
[[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.<ref name=IEA2010>[http://www.iea.org/textbase/nppdf/free/2010/key_stats_2010.pdf IEA Key energy statistics 2010] {{Webarchive|url=https://web.archive.org/web/20101011091637/http://www.iea.org/textbase/nppdf/free/2010/key_stats_2010.pdf |date=11 October 2010 }} Page: Country specific indicator numbers from page 48</ref> Venezuela's commitment to [[hydroelectricity]] was introduced in 1946 through the National Electrification plan and was approved by government officials in 1956.<ref>{{Cite journal |last=León-Vielma|first=J. E.|last2=Ramos-Real|first2=F. J.|last3=Hernández Hernández|first3=J. F.|date=2022-08-01|title=The collapse of Venezuela's electricity sector from an energy governance perspective|url=https://www.sciencedirect.com/science/article/pii/S0301421522002348|journal=Energy Policy|volume=167|article-number=113009|doi=10.1016/j.enpol.2022.113009|issn=0301-4215|url-access=subscription}}</ref> Almost half of Venezuela's hydroelectricy comes from the [[Guri Dam|Guri dam]], which has a capacity of more than [[Watt|10GW]].<ref>{{Cite news |last=Hambling|first=David|date=2016-03-30|title=Hydro power falters in persistent drought|url=https://www.theguardian.com/news/2016/mar/30/weatherwatch-hambling-venezuela-hydroelectric-dam-guri-dry-reservoirs-colombia|access-date=2026-03-19|work=The Guardian|language=en-GB|issn=0261-3077}}</ref>
== Renewable Energy == Venezuela's increased their [[Renewable energy|renewable energy consumption]] to 30.13% in 2020, which added into the country's total energy consumption.<ref name=":03"/> [[Biofuel]]s and [[waste]] in Venezuela make up about 1.9% of renewable energy.<ref>{{Cite web |title=Venezuela - Countries & Regions|url=https://www.iea.org/countries/venezuela/renewables|access-date=2026-03-19|website=IEA|language=en-GB}}</ref>
== See also == {{Portal|Venezuela|Energy}} * [[List of renewable energy topics by country]] * [[Nuclear energy in Venezuela]] {{Commons category|Energy in Venezuela}}
==References== {{reflist}}
{{South America topic|Energy in}} {{South America topic|Energy policy of}} {{Energy in OPEC}} {{Renewable energy by country}}
{{DEFAULTSORT:Venezuela}} [[Category:Energy in Venezuela| ]]