Venezuela Oil and Gas Report Q1 2016

Date: November 4, 2015
Pages: 92
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: We maintain our cautious outlook for Venezuela's oil & gas sector despite vast belowground potential and ambitious production plans by state-owned PDVSA. We expect Venezuela to continue to underperform given the large scope of operational 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.

We have upgraded our forecasts for exploration and production growth at the back end of our forecast period in light of our forecast for a more pronounced recovery in Brent benchmark prices beginning in 2018. However, we expect prices will average below USD80/bbl though 2024. As such, Venezuelan upstream activity will remain well below it potential given the country's vast below ground potential.
BMI Industry View
  Table: Headline Forecasts (Venezuela 2013-2019)
Latest Updates And Key Forecasts
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Venezuela - Major Upstream Projects
Upstream Production - Oil
Latest Updates:
Structural Trends
  Table: Oil Production (Venezuela 2013-2018)
  Table: Oil Production (Venezuela 2019-2024)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Venezuela 2013-2018)
  Table: Gas Production (Venezuela 2019-2024)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Venezuela 2013-2018)
  Table: Refining Capacity and Refined Products Production (Venezuela 2019-2024)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption (Venezuela 2013-2018)
  Table: Refined Products Consumption (Venezuela 2019-2024)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Venezuela 2013-2018)
  Table: Gas Consumption (Venezuela 2019-2024)
Trade - Oil
Crude Oil
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Venezuela 2013-2019)
  Table: Crude Oil Net Exports (Venezuela 2019-2024)
Refined Products
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Venezuela 2013-2018)
  Table: Refined Fuels Net Exports (Venezuela 2019-2024)
Trade - Gas (Pipeline And LNG)
Latest Updates:
Structural Trends:
  Table: Gas Net Exports (Venezuela 2013-2018)
  Table: Gas Net Exports (Venezuela 2019-2024)
Industry Risk Reward Index
Venezuela - Risk/Reward Index
Venezuela Upstream Index - Overview
Downstream Index - Overview
Market Overview
Venezuela Energy Market 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 Players - Venezuela Oil & Gas Sector
  Table: Key Upstream Players
  Table: Key Downstream Player
Company Profile
Repsol Venezuela
Total Venezuela
Other Summaries
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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