OPEC : Venezuela

Venezuela

Venezuela

Venezuela facts and figures

Venezuela's Independence Day
Venezuela's Independence Day

05 July

The Bolivarian Republic of Venezuela lies along South America’s Caribbean Coast. It is bordered by Brazil, Colombia and Guyana. The country covers an area of around 916 thousand square kilometres, excluding the Esequibo area, and has a population of around 31 million. Around four million people live in the capital, Caracas, and Spanish is the country’s official language.

Venezuela’s oil revenues account for about 98 per cent of export earnings. Apart from petroleum, the country’s natural resources include natural gas, iron ore, gold, bauxite, diamonds and other minerals. The national currency is the bolivar.

HE Nicolás Maduro Moros is the President of the Bolivarian Republic of Venezuela and the country is a Founder Member of OPEC.

Did you know?

  • There are 43 national parks in Venezuela, making up 15 per cent of the country’s land mass.
  • Venezuela has been an oil producer since 1914 when the first commercial oil well, Zumaque I, was drilled in the Mene Grande field on the eastern shores of Lake Maracaibo.
     

Below data covers 2017

Population (million inhabitants) 31.440
Land area (1,000 sq km) 916
Population density (inhabitants per sq km) 34
GDP per capita ($) 8,098
GDP at market prices (million $) 254,627
Value of exports (million $) 32,075
Value of petroleum exports (milllion $) 31,449
Current account balance (million $) 6,578
Proven crude oil reserves (million barrels) 302,809
Proven natural gas reserves (billion cu. m.) 5,707
Crude oil production (1,000 b/d) 2,034.8
Marketed production of natural gas (million cu. m.) 29,792.8
Refinery capacity (1,000 b/cd) 1,891
Output of petroleum products (1,000 b/d) 726
Oil demand (1,000 b/d) 502.6
Crude oil exports (1,000 b/d) 1,596.4
Exports of petroleum products (1,000 b/d) 211.7
Natural gas exports (million cu. m.) --

  • b/d (barrels per day)
  • cu. m. (cubic metres)
  • b/cd (barrels per calendar day)

Source: Annual Statistical Bulletin 2018

  • HE Manuel Salvador Quevedo Fernandez

    HE Manuel Salvador Quevedo Fernandez

    People's Minister of Petroleum
    Head of Delegation

  • Eng. Angel Gonzalez Saltron

    Eng. Angel Gonzalez Saltron

    Governor for OPEC

  • Mr. Ronny Romero

    Mr. Ronny Romero

    National Representative