Venezuela Oil and Gas Report Q2 2016

Date: February 3, 2016
Pages: 114
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

Download PDF Leaflet

Includes 3 FREE quarterly updates

BMI View: We maintain our cautious outlook for Venezuela's oil and 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 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.
BMI Industry View
  Table: Headline Forecasts (Venezuela 2014-2020)
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 2014-2019)
  Table: Oil Production (Venezuela 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Venezuela 2014-2019)
  Table: Gas Production (Venezuela 2020-2025)
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)
Trade - Oil
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)
Trade - Gas (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 America - Risk/Reward Index
  Table: Latin America - Composite Risk/Reward Index, Out of 100
Composite RRI: Sector Shifts Continue To Take Shape
Upstream RRI: Few Shifts, But Changes Loom
  Table: Latin America - Upstream Risk/Reward Index, Out of 100
Downstream RRI: Medium-Term Outlook Reinforces Current Dynamics
  Table: Latin America Downstream Risk/Reward Index, Out of 100
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
Regional Overview
Latin America Overview
  Table: Latin America Oil & Gas Production, Refining Capacity & Trade
  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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