The abundance of water on Venus is four to five orders of magnitude lower than on the Earth. This difference may reflect initial differences in the bulk volatile contents of the two planets, or may be the result of processes for massive water loss on Venus. A series of thermodynamic calculations are performed on the heterogeneous system C-O-H-N-S, varying C/H upward from its terrestrial value of 0.033 in order to evaluate the extent to which either of these two possibilities may account for the low water content on Venus. Relative abundances of 84 molecular gaseous species are computed as functions of temperature, total pressure, oxygen fugacity, and bulk C/H. As bulk C/H increases, the complement of atmospheric H 2O decreases, but C/H would have to be raised to an improbably high value to account for the low water abundance on Venus by initial deficiency alone. Increasing C/H also results in a rapid increase in CO/H 2O, however, and enhances water loss by the reaction CO + H 2O = CO 2 + H 2 or by reaction of carbon monoxide with the free oxygen liberated by photodissociation of water. Other water loss mechanisms have relied on crustal FeO as an oxygen sink. Such mechanisms, however, should have operated on both Venus and the Earth and may be insufficient to account for the major differences in present H 2O abundance between the two planets. Calculations performed in this study suggest that if the outgassed C/H on Venus was higher than on Earth by even less than a factor of 5, it would have been sufficient to make carbon monoxide competitive with FeO as a sink for oxygen. Together with the lower initial water abundance that follows from a higher C/H, water loss involving CO may have been a major factor in determining the present low abundance of water on Venus.