Venezuela Oil & Gas Report Q4 2014 - New Report Available

Despite vast upstream potential and ambitious plans of the state-owned oil company PdVSA, we retain a cautious outlook for Venezuela's oil and gas sector. We expect Venezuela to continue its underperformance given the scale of challenges, such as political interference, chronic underinvestment, unattractive operating environment and precarious financial situation of PdVSA.

Key developments this quarter:

* In April 2014, Venezuela's state-owned Petroleos de Venezuela (PdVSA) reported about hydrocarbon reserves discoveries of 185mn barrels of oil and 31.2bn cubic metres of gas found during exploration activities in Maracaibo-Falcón, Eastern and Barina-Apures basins in the end-2013 and Q114.
* In late May 2014, PdVSA has signed a five-year agreement with Russian oil company Rosneft for oil and oil product supplies. Under the terms of the agreement, PdVSA will supply 1.6mn tonnes of oil and 7.5mn tonnes of oil products during a five-year period. While the total value of the deal was not disclosed by the company, Rosneft will make a pre-payment of USD2bn to PdVSA.
* Venezuela's operable refining capacity has come under significant pressure in recent months due to impairments in Paraguana Refining Centre, which was...

Full Report Details at
- http://www.fastmr.com/prod/861914_venezuela_oil_gas_report_q4_2014.aspx?afid=301

The Venezuela Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Venezuela including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Venezuela Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Venezuelan oil and gas industry.

Key Benefits

* Benchmark BMI's independent oil and gas industry forecasts for Venezuela to test consensus views - a key input for successful budgeting and strategic business planning in the Venezuelan oil and gas market.
* Target business opportunities and risks in the Venezuelan oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Venezuela.
* Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Regional Overview

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