Venezuela Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Oil and Gas Companies in Venezuela and the market is segmented by Upstream, Midstream, and Downstream. The report offers the market size and demand forecasts for the Venezuela Oil and Gas Market in USD billion for all the above segments.

Venezuela Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Venezuela Oil and Gas Market Size

Venezuela Oil and Gas Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2021 - 2023
CAGR 3.50 %
Market Concentration Medium

Major Players

Venezuela Oil and Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Venezuela Oil and Gas Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Venezuela Oil and Gas Market Analysis

The Venezuela Oil and Gas Market is expected to register a CAGR of less than 3.5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. However, the market has now reached pre-pandemic levels.

The Venezuelan government plans to nationalize its oil and gas assets due to the implementation of United States sanctions on Venezuela. Nationalizing the asset reduces the capital expenditure of foreign oil companies, resulting in a decrease in crude oil production from the country during the forecast period. Decreased crude oil production due to lower capital investment is expected to restrict the market's growth during the forecast period. Nevertheless, Venezuela has massive potential for hydrocarbon resources. The country has the possibility of foreign player involvement and participation in oil and gas exploitation in the near future.

Venezuela Oil and Gas Industry Overview

The Venezuelan oil and gas market is moderately consolidated. The key players (in particular order) include Petróleos de Venezuela SA, Chevron Corporation, Total SA, NK Rosneft PAO, Repsol SA, Eni SpA, China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec), ONGC Videsh Limited, and Belorusneft AZS, among others.

Venezuela Oil and Gas Market Leaders

  1. Petróleos de Venezuela S.A

  2. Chevron Corporation

  3. Total SA

  4. NK Rosneft PAO

  5. Repsol SA

  6. *Disclaimer: Major Players sorted in no particular order
Venezuela Oil and Gas Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Venezuela Oil and Gas Market News

In December 2022, the Venezuelan government and American oil company Chevron Corporation signed a contract to resume oil and gas operations in Caracas, Venezuela. This contract aims to continue with the production and development activities in the energy sector, framed within the constitution and the Venezuelan laws that govern oil activity in the country.

Venezuela Oil and Gas Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Venezuela Oil and Gas Market in USD billion, till 2027
  • 4.3 Venezuela Oil and Gas Production, in 2021
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.2 Restraints
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 By Upstream
    • 5.1.1 Existing Infrastructure
    • 5.1.2 Projects in Pipeline
    • 5.1.3 Upcoming Projects
  • 5.2 By Midstream
    • 5.2.1 Existing Infrastructure
    • 5.2.2 Projects in Pipeline
    • 5.2.3 Upcoming Projects
  • 5.3 By Downstream
    • 5.3.1 Existing Infrastructure
    • 5.3.2 Projects in Pipeline
    • 5.3.3 Upcoming Projects

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Petroleos de Venezuela SA
    • 6.3.2 Total SA
    • 6.3.3 NK Rosneft PAO
    • 6.3.4 Repsol SA
    • 6.3.5 Eni SpA
    • 6.3.6 China National Petroleum Corporation (CNPC)
    • 6.3.7 China Petroleum & Chemical Corporation (Sinopec)
    • 6.3.8 ONGC Videsh Limited
    • 6.3.9 Belorusneft AZS
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Venezuela Oil and Gas Industry Segmentation

Oil and gas play an influential role in the global economy as the world's primary fuel source. Oil and gas operations are primarily classified into upstream, midstream, and downstream activities.  

The Venezuelan oil and gas market is segmented by type. By type, the market is segmented by upstream, midstream, and downstream. For each segment, the market size and demand forecasts have been done based on USD billion.

By Upstream Existing Infrastructure
Projects in Pipeline
Upcoming Projects
By Midstream Existing Infrastructure
Projects in Pipeline
Upcoming Projects
By Downstream Existing Infrastructure
Projects in Pipeline
Upcoming Projects
Need A Different Region or Segment?
Customize Now

Venezuela Oil and Gas Market Research FAQs

What is the current Venezuela Oil and Gas Market size?

The Venezuela Oil and Gas Market is projected to register a CAGR of less than 3.5% during the forecast period (2025-2030)

Who are the key players in Venezuela Oil and Gas Market?

Petróleos de Venezuela S.A, Chevron Corporation, Total SA, NK Rosneft PAO and Repsol SA are the major companies operating in the Venezuela Oil and Gas Market.

What years does this Venezuela Oil and Gas Market cover?

The report covers the Venezuela Oil and Gas Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Venezuela Oil and Gas Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Venezuela Oil and Gas Industry Report

Statistics for the 2025 Venezuela Oil and Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Venezuela Oil and Gas analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.