The massive tremor – one of the country’s strongest ever – hit at 5.31pm (10.31pm BST) at a depth of 123.2km.
Officials said there were no immediate reports of injuries and damage in the capital Caracas is limited.
Venezuela is not in a good shape to deal with a natural disaster, as the embattled south American country is already wrestling with a crippling economic crisis with medicine running short, hospitals barely able to function and some severe shortages of basics such as chicken and milk.
Find all the latest news and live updates here. All times in BST.
9.30am update: Earthquake was one of the largest ever recorded in the region
Seismologist at the University of Southampton Stephen Hicks posted on Twitter: “M7.3 earthquake today along the northern coast of Venezuela is one of the largest ever recorded earthquakes along the boundary between the Caribbean & South American plates.
“There was an M7.7 quake to the west in 1900 but this will have preceded detailed instrumental recordings.
“Mostly horizontal differential motion between the Caribbean and South American plates is accommodated along a transform plate boundary (“right-lateral” / “dextral” sense of slip) – named the El Pilar Fault (EPF) in the region of today’s earthquake
“But 120 km hypocentre depth estimate of today’s earthquake seems far too deep to be directly related to transform faulting between the two plates, which should only really cause much shallower quakes (e.g. depth of <10s of km).
“The 1968 M6.5 earthquake occurred in a very similar location and also had a large depth (103 km).
“Focal mechanism (as shown by the “beachball” in the map) is unusual and doesn’t seem to indicate simple strike-slip faulting along a transform fault.
“Maybe the southernmost edge of the South American plate that is subducting under the Lesser Antilles arc might have been involved.”
9.23am update: Quake so strong it was felt in the Caribbean
The Venezuela earthquake was also felt in neighbouring Colombia and nearby island nations like Trinidad and Tobago and St Lucia.
In Trinidad and Tobago, there were initial reports of some cracks to buildings, cars damaged when concrete debris fell on them, and loss of electricity.
Traffic jams formed on highways in Port of Spain, but there were no immediate reports of casualties there either.
Colombia’s government said the country was unharmed too, although workers dashed out of high-rise blocks in the mountainous capital Bogota.
“It was a moment of panic, we thought the worst,” said Jimena Valencia, a 29-year-old administrator in the north of Bogota.
9.18am update: What is the advice for surviving aftershocks?
Citizens who are fearful of further aftershocks have been advised to stay calm, do not panic and remain alert.
The University of the West Indies Seismic Research Centre gave the following advice:
- If inside stay inside, do not run out of the building as you may be injured by falling debris.
- If inside, DROP, COVER and HOLD ON until the shaking stops. Get under a sturdy desk, table or bed and hold on or stand in a strong doorway.
- Do not use elevators or stairs
- Move away from windows, mirrors, glass doors, pictures, bookcases, hanging plants and heavy objects.
- If outside and there are no obvious signs of danger nearby, stay there.
- If outside, stay away from glass buildings, electricity poles and bridges.
- If in a vehicle, do not stop on or under a bridge.
- Always look out for falling plaster, bricks, lighting fixtures and other objects.
9.10am update: Huge tower damaged in the quake
Despite limited damage in Caracas, the quake tilted the top five floors of an abandoned 45-story skyscraper known as the ‘Tower of David’, according to Interior Minister Nestor Reverol.
The tower, originally intended to be a bank centre but has been abandoned since 1994 and later occupied by squatters for years, dominates Caracas’ skyline.
Pictures after the quake showed the building’s top floors, which are unfinished, leaning sideways.
9.00am update: Aftershocks are to be expected
The University of the West Indies Seismic Research Centre warned there would be aftershocks following the major quake.
In a Q&A, they said: “Yes, we have recorded aftershocks following the event.
“Please note that aftershocks can be strong and one must stay calm and Drop, Cover and Hold on (DCH) until the shaking stops.”
Based on felt reports, the shaking lasted for approximately 90 seconds.
8.30am update: Is Venezuela under a tsunami warning?
Director Prof Richard Robertson and Seismologist Dr Joan Latchman said: “A tsunami warning was sent out after the event. This warning was sent as part of the procedure that is in place for such large magnitude events.
“However, there was no threat to any of the islands or mainland Venezuela.”
The US Pacific Tsunami Center cancelled an earlier warning of a possible tsunami along the coast near the epicenter, some 190 kilometers (118 miles) from Cumana.