Venezuela’s energy mix is heavily dominated by fossil fuels for primary energy consumption, while electricity generation relies predominantly on hydropower. As of 2023–2024, the total energy supply is roughly 46% natural gas and 38% oil, with hydropower contributing about 14–15%. However, over 60–75% of electricity generation is derived from large-scale hydro plants.

Venezuela is exploring green hydrogen as part of its energy transition, leveraging its high hydroelectric capacity. While the government has proposed a Draft Green Hydrogen Law as of 2023, development is in early stages, often stalled by economic, financial, and regulatory challenges. Key sectors for potential application include industrial processes and fuel alternatives.