ImportError: No module named psycopg2

Step 1: Install the dependencies

sudo apt-get install build-dep python-psycopg2

Step 2: Run this command in your virtualenv

pip install psycopg2-binary 

Ref: Fernando Munoz

Use psycopg2-binary instead of psycopg2.

pip install psycopg2-binary

Or you will get the warning below:

UserWarning: The psycopg2 wheel package will be renamed from release 2.8; in order to keep installing from binary please use "pip install psycopg2-binary" instead. For details see: http://initd.org/psycopg/docs/install.html#binary-install-from-pypi.

Reference: Psycopg 2.7.4 released | Psycopg

I faced the same issue and resolved it with following commands:

sudo apt-get install libpq-dev
pip install psycopg2

Try installing

psycopg2-binary

with pip install psycopg2-binary --user

Please try to run the command import psycopg2 on the python console. If you get the error then check the sys.path where the python look for the install module. If the parent directory of the python-psycopg2-2.4.5-1.rhel5.x86_64 is there in the sys.path or not. If its not in the sys.path then run export PYTHONPATH=<parent directory of python-psycopg2-2.4.5-1.rhel5.x86_64> before running the openerp server.