Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020

Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020

Summary

This profile is the essential source for top-level energy industry data and information. The report provides an overview of the oil industry in Venezuela. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for the industry. It also provides information relating to the oil assets (oil fields, refineries, pipelines and storage terminals) in Venezuela. The report also analyses the fiscal regime relevant to the oil assets in Venezuela and compares the investment environment in Venezuela with other countries in the region. The profiles of the major companies operating in the oil sector in Venezuela together with the latest news and deals are also included in the report.

Scope

- Historic and forecast data relating to exploration and production (E&P) production, consumption, imports, exports and reserves are provided for the oil industry for the period 1995-2020.
- Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 for the period 1995-2020.
- Operator and equity details for major oil assets in Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020.
- Key information relating to market regulations, key energy assets and the key companies operating in the Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020’s oil industry.
- Detailed information on key fiscal terms (such as rents, bonuses, royalty, cost recovery, profit oil, petroleum and corporate taxes) pertaining the geography is also provided. A sample calculation detailing how fiscal terms apply to a typical asset in the regime is included.
- Information on the top companies in the Venezuela Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 including business description, strategic analysis, and financial information. Key companies include Petroleos de Venezuela, Chevron Corporation and Conoco Philips.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.

Reasons to buy

- Gain a strong understanding of the country’s energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Evaluate the attractiveness of the geography for oil investment in the light of government policies and the fiscal environment.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Understand the geography’s policies and fiscal terms, and their impact on contractor’s profits from upstream oil assets.
- Assess your competitor’s major crude oil assets and their performance.
- Analyze the latest news and financial deals in the oil sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in the country.

1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Venezuela Energy Sector 11
2.1 Venezuela Energy Sector, Market Overview 11
2.2 Venezuela Energy Sector, Crude Oil 12
2.2.1 Venezuela Crude Oil, Overview 12
2.2.2 Venezuela Crude Oil, Supply and Demand Balance 12
2.2.3 Venezuela Crude Oil, Regulatory Structure 18
2.2.4 Venezuela Crude Oil, Infrastructure 19
3 Venezuela Petroleum Fiscal Regime 20
3.1 Venezuela Petroleum Fiscal Environment 20
3.2 License Terms 21
3.3 Key Fiscal Terms 21
3.4 Sample Cashflows Calculations 23
4 Venezuela Oil Upstream Investment Environment Benchmarking 24
4.1 Introduction 24
4.2 The Overall Ranking 24
4.3 Upstream Fiscal Attractiveness 25
4.3.1 Maximum Government Take Index 26
4.3.2 Maximum State Participation Index 26
4.3.3 Domestic Market Obligation Index 26
4.4 Oil Sector Performance 27
4.4.1 Exploration Activity 29
4.4.2 Oil Production 30
4.4.3 Oil Reserves 30
4.4.4 Oil Consumption 31
4.4.5 Refining Industry 31
4.5 Economic Performance 31
4.5.1 GDP Growth Index 33
4.5.2 FDI Confidence Index 33
4.5.3 Balance of Trade Index 34
4.6 Socio-Political Performance 34
4.6.1 Democracy Index 36
4.6.2 Governance Index 36
5 Venezuela Exploration and Production Sector 37
5.1 Venezuela Exploration and Production Sector, Country Snapshot 37
5.1.1 Venezuela Exploration and Production Sector, Key Data 37
5.1.2 Venezuela Exploration and Production Sector, Crude Oil Assets Map 37
5.2 Venezuela Exploration and Production Sector, Gross Crude Oil Production 38
5.2.1 Venezuela Exploration and Production Sector, Gross Crude Oil-Historical Production 38
5.2.2 Venezuela Exploration and Production Sector, Gross Crude Oil Production by Assets 39
5.2.3 Venezuela Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 41
5.2.4 Venezuela Exploration And Production Sector, Market Share (%) based on Gross Equity Weighted Crude Oil Production 42
5.3 Venezuela Exploration and Production Sector, Gross Crude Oil Forecasts 44
5.3.1 Venezuela Exploration and Production Sector, Gross Crude Oil Forecasted Production 44
5.4 Venezuela Exloration And Production Sector, Crude Oil Asset Details 46
5.4.1 Venezuela Exploration And Production Sector, Active Crude Oil Asset Details 46
5.4.2 Venezuela Exploration And Production Sector, Planned Crude Oil Asset Details 48
6 Venezuela Pipeline Sector 49
6.1 Venezuela Pipeline Sector, Key Data 49
6.2 Venezuela Pipeline Sector, An Overview 49
6.3 Venezuela Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 49
6.4 Venezuela Pipeline Sector, Comparison Key Petroleum Product Pipeline Companies 50
6.5 Venezuela Pipeline Sector, Crude Oil Pipelines 51
6.6 Venezuela Pipeline Sector, Petroleum Product Pipelines 53
7 Venezuela Refining Sector 54
7.1 Venezuela Refining Sector, Key Data 54
7.2 Venezuela Refining Sector, An Overview 54
7.3 Venezuela Refining Sector, Total Refining Capacity 54
7.4 Venezuela Refining Sector, Capacity – Wise Market Share by Company 55
7.5 Venezuela Refining Sector, Crude Distillation Unit Capacity 56
7.6 Venezuela Refining Sector, Coking Capacity 56
7.7 Venezuela Refining Sector, Fluid Catalytic Cracking Capacity 57
8 Venezuela Oil and Chemicals Storage Sector 58
8.1 Venezuela Oil and Chemicals Storage Sector, Key Data 58
8.2 Venezuela Oil and Chemicals Storage Sector, An Overview 58
8.2.1 Venezuela Oil and Chemicals Storage Sector, Total Storage Capacity 58
8.3 Venezuela Oil and Chemicals Storage Sector, Capacity – Wise Market Share by Company 59
8.4 Venezuela, Oil and Chemicals Storage Sector, Storage Capacity 60
9 Profile of Petroleos de Venezuela S.A. 61
9.1 Petroleos de Venezuela S.A., Key Information 61
9.2 Petroleos de Venezuela S.A., Company Overview 61
9.3 Petroleos de Venezuela S.A., Business Description 61
9.3.1 Petroleos de Venezuela S.A., Business Description, Business Overview 61
9.4 Petroleos de Venezuela S.A., SWOT Analysis 63
9.4.1 Petroleos de Venezuela S.A., SWOT Analysis, Overview 63
9.4.2 Petroleos de Venezuela S.A., SWOT Analysis, Strengths 63
9.4.3 Petroleos de Venezuela S.A., SWOT Analysis, Weaknesses 65
9.4.4 Petroleos de Venezuela S.A., SWOT Analysis, Opportunities 65
9.4.5 Petroleos de Venezuela S.A., SWOT Analysis, Threats 66
9.5 Petroleos de Venezuela S.A., Revenue Analysis 67
9.5.1 Petroleos de Venezuela S.A., Revenue by Segment 68
9.5.2 Petroleos de Venezuela S.A., Revenue by Geography 68
10 Profile of Chevron Corporation 69
10.1 Chevron Corporation, Key Information 69
10.2 Chevron Corporation, Company Overview 69
10.3 Chevron Corporation, Business Description 69
10.3.1 Chevron Corporation, Business Description, Business Overview 69
10.3.2 Chevron Corporation, Business Description, Chemicals 70
10.3.3 Chevron Corporation, Business Description, Downstream 70
10.3.4 Chevron Corporation, Business Description, Others 72
10.3.5 Chevron Corporation, Business Description, Upstream Segment 73
10.4 Chevron Corporation, SWOT Analysis 75
10.4.1 Chevron Corporation, SWOT Analysis, Overview 75
10.4.2 Chevron Corporation, SWOT Analysis, Strengths 76
10.4.3 Chevron Corporation, SWOT Analysis, Weaknesses 77
10.4.4 Chevron Corporation, SWOT Analysis, Opportunities 78
10.4.5 Chevron Corporation, SWOT Analysis, Threats 79
10.5 Chevron Corporation, Revenue Analysis 80
10.5.1 Chevron Corporation, Revenue by Segment 80
10.5.2 Chevron Corporation, Revenue by Geography 81
10.6 Chevron Corporation, Financial and Operational Review 82
10.6.1 Financial Statements 82
10.6.2 Financial Ratios 83
11 Profile of ConocoPhillips 84
11.1 ConocoPhillips, Key Information 84
11.2 ConocoPhillips, Company Overview 84
11.3 ConocoPhillips, Business Description 84
11.3.1 ConocoPhillips, Business Description, Business Overview 84
11.3.2 ConocoPhillips, Business Description, Chemicals Segment 85
11.3.3 ConocoPhillips, Business Description, Emerging Businesses Segment 85
11.3.4 ConocoPhillips, Business Description, Exploration and Production Segment 87
11.3.5 ConocoPhillips, Business Description, LUKOIL Investment 88
11.3.6 ConocoPhillips, Business Description, Midstream Segment 88
11.3.7 ConocoPhillips, Business Description, Refining, Marketing and Transportation 89
11.4 ConocoPhillips, SWOT Analysis 90
11.4.1 ConocoPhillips, SWOT Analysis, Overview 90
11.4.2 ConocoPhillips, SWOT Analysis, Strengths 91
11.4.3 ConocoPhillips, SWOT Analysis, Weaknesses 92
11.4.4 ConocoPhillips, SWOT Analysis, Opportunities 92
11.4.5 ConocoPhillips, SWOT Analysis, Threats 93
11.5 ConocoPhillips, Revenue Analysis 94
11.5.1 ConocoPhillips, Revenue by Segment 94
11.5.2 ConocoPhillips, Revenue by Geography 95
11.6 ConocoPhillips, Financial and Operational Review 96
11.6.1 Financial Statements 96
11.6.2 Financial Ratios 97
12 Financial Deals Landscape 98
12.1 Detailed Deal Summary 98
12.1.1 Acquisition 98
12.1.2 Debt Offerings 100
12.1.3 Partnerships 101
12.1.4 Asset Transactions 114
13 Recent Developments 116
13.1 License Rounds 116
13.1.1 Jul 27, 2009: Venezuela Defers Orinoco Oil Tender: Ramirez Says 116
13.1.2 Mar 06, 2009: Venezuela Postpones Orinoco Bids By Two Weeks 116
13.2 License Awards 117
13.2.1 Jul 06, 2009: Total, CNPC To Bid For Two Oil Blocks In Venezuela 117
13.3 Strategy and Business Expansion 117
13.3.1 Jun 11, 2009: Pertamina Expands Oil, Gas Exploration Activities To Overseas 117
13.3.2 May 27, 2009: PDVSA Steps Up Exploration And Production Plans 118
13.3.3 May 12, 2009: PetroChina Plans To Construct Two Refineries On Venezuelan Crude 118
13.3.4 Apr 28, 2009: PDVSA To Select Partners For Developing Carabobo Area In Venezuela 119
13.3.5 Feb 12, 2009: PDVSA To Restore Oil Ventures With Foreign Partners To Cut Cost 120
13.4 Drilling and Production Updates 121
13.4.1 Jul 10, 2009: PDVSA Updates On PTL-7 Well At Las Piedritas Field In Venezuela 121
13.4.2 Jun 10, 2009: Chevron's Cardon Well In Gulf Of Venezuela May Be Dry 121
13.4.3 Jun 04, 2009: PDVSA Starts Operations In Drilling Rig Corpoven 8 123
13.4.4 May 06, 2009: PDVSA Announces First Production Test At Cruz de Mayo Gas Well In Dragon Offshore Field, Venezuela 123
13.5 Financial Announcements 125
13.5.1 Jun 07, 2009: PDVSA Net Profit Up 50.06% In 2008 125
13.6 Other Significant Developments 126
13.6.1 Jul 26, 2009: Venezuela To Spend In Iran's Oil Sector: Nozari says 126
13.6.2 Jul 22, 2009: PDVSA Completes Acquisition Of 3D Seismic Data In Paria Peninsula, Venezuela 126
13.6.3 Jul 14, 2009: Petrobras To Participate In Carabobo Drilling Tender, Venezuela 127
13.6.4 Jul 07, 2009: Valero Energy's Aruba Refinery Units Still In Operations 128
13.6.5 Jun 08, 2009: Caribbean Heads To Discuss Oil Supply Projects 128
13.6.6 Jun 03, 2009: PDVSA's El Palito Refinery Started Up The Distillation And Specialties Unit 129
13.6.7 May 08, 2009: Venezuelan Government Seizes Williams' Two Assets 129
13.6.8 Apr 07, 2009: Iran And Venezuela To Construct LNG Plant In Venezuela 130
13.6.9 Apr 06, 2009: Japan, Venezuela Sign Energy Cooperation Deal 130
13.6.10 Apr 01, 2009: Iran Plans To Construct Joint Oil Refinery In Syria 131
13.6.11 Mar 27, 2009: PDVSA To Cut 40% On Its Investment Plan For 2009 131
13.6.12 Mar 23, 2009: South Korea Signs MoU With Venezuela For Collaboration In Oil And Gas Sectors 133
13.6.13 Mar 19, 2009: Japan, Venezuela To Expand Ties In Energy Sector 133
13.6.14 Mar 17, 2009: Venezuela Adds 20.96 Billion Barrels To Crude Reserves 133
13.6.15 Mar 16, 2009: Venezuela Closes Deal For Russian Companies Exploring Oil In Orinoco Belt 134
13.6.16 Mar 06, 2009: Venezuela Starts Paying Debts To Oil Service Companies 134
14 Appendix 135
14.1 Methodology 135
14.1.1 Coverage 136
14.1.2 Secondary Research 137
14.1.3 Primary Research 137
14.1.4 E&P Forecasts 137
14.1.5 Midstream Forecasts 139
14.1.6 Expert Panel Validation 139
14.2 Contact Us 139
14.3 About GlobalData 140
14.4 Disclaimer 140