Colombia Energy Articles & Analysis

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How will lower oil prices affect drilling activity?

 

The prevailing low oil price saw exploration and production (E&P) companies cut costs in 2014 and 2015. In order to produce crude profitably at prices of under $40 per barrel, expensive greenfield exploration programmes have been put on the back-burner. However, if Colombia is to maintain its production target of 1m barrels per day (bpd)...

 

Over the past decade the oil industry has been at the centre of Colombia’s economic growth. The sector accounted for nearly one-fifth of all foreign direct investment (FDI) over the past 10 years, approximately half of all export revenues and, through taxes and royalties, provided up to 30% of government income. Consequently, the fall in the...

Chapter | Energy & Utilities from The Report: Colombia 2016

Over the past decade the oil industry has been at the centre of Colombia’s economic growth. The sector accounted for nearly one-fifth of all foreign direct investment over the past 10 years, approximately half of all export revenues and, through taxes and royalties, provided up to 30% of government income. Consequently, the fall in the oil price from more than $100 per barrel in mid-2014 to...

Despite continuing external headwinds, in particular the significant drop in the price of oil since mid-2014, the Colombian economy remained resilient in 2015, expanding by 3.1%. 

Las serias sequías causadas por el fenómeno climático de El Niño, uno de los más severos jamás registrados, han comenzado a afectar la generación y distribución de energía en Colombia. Mientras las hidroeléctricas operan muy por debajo de sus niveles normales y los precios de la electricidad han subido 10 veces.