Colombia Energy

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What is the motivation behind the recent oil auctions and what firms have shown interest?

Private companies and Ecopetrol have poured money into pipeline construction projects in the last several years to increase capacity, improve distribution throughout the country and decrease transport by road. A mountainous geography and substandard road networks make shipping by truck an expensive and slow proposition. However, many oil companies working in Colombia...

Chapter | Energy & Utilities from The Report: Colombia 2014

In the past 10 years, Colombia has emerged as one of Latin America’s leading hydrocarbons producers. With just over 1m barrels per day of production in 2013, Colombia trailed only Mexico, Venezuela and Brazil in the region. On a relative basis, natural gas production, at 1.2bn cu feet per day, is more modest, but has also grown every year but one since 2003. With one of the lowest reserves-to-...

Despite instability associated with the global mining and hydrocarbons sectors, Colombia displays stable economic growth amidst a regional slowdown, in large part a result of economic liberalisation, free trade agreements and entry to a variety of trade blocs. After recording 6.6% growth in 2011 and 4% in 2012, Colombia saw a slowdown in the first half of 2013, but the economy regained momentum by the end of the year.

El objetivo de alcanzar la ambiciosa meta de una producción de crudo de barriles de 2,5 m2 por día (bpd) para el 2018 parece más difícil para Colombia debido a los estancamientos en los índices de producción. A pesar de que en el 2013 se superó la producción de barriles de 1 m2 por día (bpd), el Ministerio de Hacienda y Crédito Público actualizó recientemente su pronóstico para el 2014 a 981.000 bpd de su predicción de 1,1 m2 bpd de un año atrás.
Si bien la industria petrolera de Colombia superó las expectativas de crecimiento durante el año 2013 debido al aumento de la producción en un promedio superior al millón de barriles por día (bpd), el número de pozos exploratorios perforados el año pasado no alcanzó las expectativas.

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