Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Andean upstream feels the heat
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
Colombian E&Ps face bleak upstream outlook
Political backbiting and slumping drilling activity point to further declines ahead of next year’s election
Hydrocarbon Processing Refining Databook 2025: Americas
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
Latin America’s evolving crude outlook
New supply from Argentina, Brazil and Guyana is rich in middle distillates, but optimism in terms of volume growth remains tempered by regulatory and technical risks as well as price volatility
Latin America feels the heat
Extreme weather conditions are compounding upstream challenges and pressuring governments across the region
Colombian O&G starts to feel investment squeeze
Decarbonisation strategy is already hurting upstream appetite and threatening near-term energy security
Indie Arrow targets rapid production growth
Fears that left-leaning President Petro’s government would signal the end for Colombia’s oil industry appear unfounded
Colombia’s upstream set for decline
Political decision-making casts doubt on the Latin American country’s ability to sustain energy self-sufficiency in the long term
Uncertainty weighs on the Andean energy sector
Collapsing governments and crackdown on public dissent showcase growing instability
Global LNG analysis report 2023 – Part 4
The fourth and final part of this deep-dive analysis looks at LNG projects planned or underway across the Americas
Colombian oil production has slipped into decline
Colombia Ecopetrol Gran Tierra Geopark
Charles Waine
15 February 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Warning signs for Colombia’s upstream

The clock is ticking to prevent years of crude production decline ending the country’s ability to meet its own energy needs

Months of national protests last year dealt another blow to Colombia’s ambitions of reviving its flagging crude production. The country’s National Hydrocarbons Agency (ANH) estimates that output averaged just 736,397bl/d in 2021, down from 779,119bl/d the year before, which was already an 11-year low. “There has not been a significant increase in proven resource volume in years,” says Sofia Forestieri, an upstream analyst at consultancy Rystad Energy. “Crude resources total 1.8bn bl and, at the current rate, [Colombia] will only be able to sustain production for another five or six years.” Latin America’s third-largest oil producer reached peak production in 2013, with output at 990,000bl/d,

Also in this section
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
Brazil looks to solve its energy security travails
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
India ready for turbulent times
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search