VENEZUELA ENERGY IN FIGURES - Servicios IESA

PDVSA: PRODUCTION, CONSUMPTION AND OIL RESERVES IN VENEZUELA, 1980-2012
According to official figures, the production was 2.91 million barrels per day in 2012,
representing a decrease of 2.7 percent from 2011, when production was 2.99 million barrels per day.
With respect to consumption, PDVSA reported for 2012 a total of 681 thousand barrels per day.
In 2011, PDVSA’s operating expenses were U.S. $ 14.555 million, an increase of 58 percent over 2012, when they
were 23.014 million dollars. This increase relates primarily to the costs of Welfare, Labor and Benefit of workers.
PDVSA PRODUCTION, DOMESTIC CONSUMPTION AND CONVENTIONAL OIL RESERVES IN VENEZUELA, 1980-2012
THOUSANDS BARRELS DAILY
3500
3000
2500
2000
1500
1000
300
250
200
150
100
Source: PODE until 2008, Informe
Operacional y Financiero de Pdvsa (2009),
Informe de Gestión PDVSA 2010; Informe
de Gestión PDVSA 2011 and Informe
de Gestión PDVSA 2012.
Note 1: Reserve level includes conventional
and heavy-weight crudes certified until
2007. They were estimated considering
a 20 percent recovery rate.
Note 2: Data includes natural gas
condensates and heavy-weight crudes
destined to Orimulsion.
500
50
0
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
0
RESERVES MMMB PRODUCTION MBD CONSUMPTION MBD
INVESTMENT
In 2012 investments in the oil industry increased
by 47 percent relative to 2011, rising from 17.5
billion dollars to 24.6. In 2012 the investments were
concentrated in the area of oil exploration and
production with an investment of approximately
U.S. $ 12.48 billion. There was a decrease
in investment in non-oil sectors of 51 percent,
declining from 1.46 billion dollars to 0.715
billion. However, investments in “Other” areas
increased by 86 percent, resulting in the
percentage share of total investments exceeding
the sum of investments in refining, trading and
supply, gas and food and consumer goods / non-oil
subsidiaries.
8
3
11
27
INVESTMENT BY SECTOR IN 2012
EXPLORATION AND PRODUCTION
%
REFINNING, COMMERCIALIZING AND SUPPLY
GAS
FOOD AND MASSIVE CONSUMPTION
PRODUCTS/AFFILIATES UNRELATED TO OIL
OTHERS
51
Source: Informe de Gestión
PDVSA 2012.
19