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  • Does Venezuela have oil refining?
  • A paid subscription is required for full access. Venezuela's oil refining capacity has remained stable in the past decade, at 1.3 million barrels per day. Since 1990, the country's capacity increased by approximately 10 percent. Presently Amuay, a part of the Paraguaná Refinery Complex, was the largest refining unit in Venezuela, based on capacity.
  • How much oil does Venezuela produce in 2023?
  • Despite the sizeable reserves, Venezuela produced 0.8% of total global crude oil in 2023. Most of Venezuela's proven oil reserves are extra-heavy crude oil from the Orinoco Belt.
  • What is the largest refining unit in Venezuela?
  • Since 1990, the country's capacity increased by approximately 10 percent. Presently Amuay, a part of the Paraguaná Refinery Complex, was the largest refining unit in Venezuela, based on capacity. Get notified via email when this statistic is updated.
  • Where does Venezuela export crude oil?
  • Most of the remaining crude oil was destined for india, China, and Europe. Venezuela has seven crude oil export loading points, in practice; however, most of its crude oil exports are routed through the Puerto Jose terminal, which is located offshore of the Jose industrial complex in northeastern Venezuela.
  • Will Chevron be able to produce crude oil in Venezuela?
  • Much of Venezuela's crude oil production capacity and infrastructure have suffered from a decade-long lack of capital and regular maintenance. Chevron's earlier exemption increased its production to 135,000 barrels per day (b/d) in 2023, and we expect Chevron's output in Venezuela to reach 200,000 b/d by the end of 2024.
  • Is Venezuela a Titan in the global oil industry?
  • Venezuela had everything to be a titan in the global oil industry. One of the founding members of the Organization of the Petroleum Exporting Countries (OPEC), the South American nation holds the largest crude oil reserves in the world, amounting to more than 300 billion barrels.