Letter from South America: Colombia needs to act on declining output
The Andean country’s recent troubles highlight the need to encourage exploration
Colombia is going through a difficult time. Recent social unrest, the first of its kind in more than a generation, has brought longstanding issues to the fore. The disorder is causing more tangible problems as well. The blockades associated with the protests had stopped the production of around 1.5mn bl of crude oil and 2.7bn ft3 (76.5mn m3) of gas as of June, according to energy minister Diego Mesa. Those are not insignificant volumes. Perhaps more worryingly, last year crude oil production in Colombia slipped below 800,000bl/d for the first time since 2010. The Andean nation’s extractive industries have always been exposed to some element of risk. The oil and gas sector was once a favourit
Welcome to the PE Media Network
PE Media Network publishes Petroleum Economist, Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry
Comments