facebook
linkedin
twitter
About Us
  • BFSI
  • Energy
  • Infocom
  • Mining
  • Venture
  • Industry
  • Travel
  • Civic
  • Food, Health, Ag
  • Real Estate
  • Responsibility
  • Economy
  • Law & Justice
  • Interview
  • Analysis

Colombia Produced 854,121 Barrels of Oil Per Day in 2017, a 3.4% Drop from 2016

Posted On January 16, 2018
By : Jared Wade
Comment: Off
Tag: Brent Crude, Canacol Energy, Caño Limon-Coveñas, Crude, Exploration, extraction, Frontera Energy Corp., Ministerio de Minas y Energía, ministry of mines and energy, minminas, natural gas, Natural Resources, Occidental Petroleum Corporation, oil, Oxy, pacific exploration and production corp, PACIFIC RUBIALES, West Texas Intermediate

Colombia produced an average of 854,121 barrels of oil per day in 2017, down from the 885,000 average of the prior year, according to the Ministry of Mines and Energy.

This nearly-31,000 drop, a decrease of 3.4%, was expected, however, and the actual output did exceed the ministry’s previously released “medium-term” estimate of 840,000 barrels of oil per day.

Some good news was seen in December. The average monthly production of 870,328 barrels per day was up 2.3% compared to November and 3.9% above the average seen in December 2016.

Pipeline disruptions, particularly due to attacks on the Caño Limón-Coveñas pipeline in eastern Colombia in the first half of the year, caused pumping to be halted for extended periods at certain oilfields.

READ MORE: Ecopetrol to Ramp Up Exploration and Production in 2018 with $4B USD Investment

Though a bilateral ceasefire negotiated with ELN, the country’s last remaining armed leftist guerrilla group, helped to ease these issues in the third and fourth quarter of the year, that ceasefire has now ended, and the group has been blamed for carrying out several pipeline attacks over the past week.

Ecopetrol, the Colombian state-controlled oil company and primary producer in the nation, plans to ramp up its production and investment in 2018 with an investment of up to $4 billion USD. It has set a goal for the Bogotá-based company to produce up to 725,000 barrels of petroleum-equivalent per day in 2018 and expects to drill at least 620 development wells and 12 exploration wells during the year.

Occidental Petroleum Corporation of the United States and two Canada-based firms, Frontera Energy Corp. and Canacol Energy Ltd., are among the other high-profile oil companies operating in the country.

(Photo credit: lalabell68 / Pixabay)

DON'T MISS OUT: The only English-language Colombia news that's strictly business, markets, & investment!
Join global executives & investors by subscribing to our FREE weekly updates
I agree to have my personal information transferred to MailChimp ( more information ) DISCLAIMER: Protección de Datos Personales Artículo 15 de la Constitución Política de Colombia, ley 1581 de 2012 y decreto 1377 de 2013.
We will never spam you or share your email address ¡Nunca Jamás!

Share the news!

  • Facebook
  • Twitter
  • Print
  • WhatsApp
  • LinkedIn
  • Skype

Related

Share your thoughts:

comments

About the Author
Jared Wade is editor in chief of Finance Colombia. He is a Bogotá-based journalist with 15 years of experience covering topics including business, financial services, Latin America, and sports. Email him at jared.wade(at) financecolombia.com or follow him on Twitter at @Jared_Wade.
  • google-share
Previous Story

ELN Guerrillas Allegedly Kidnap Ecopetrol Contractor in Arauca

Next Story

Gran Colombia Gold Increased Production by 16% in 2017 to 173,821 Ounces of Gold

Related Posts

0

Frontera Energy Reports Full Year Earnings Up 117%

Posted On March 3, 2022
, By Loren Moss
0

Ecopetrol 2021 Revenues Up 83.4% Over 2020

Posted On March 2, 2022
, By Loren Moss
It's hard not to be happy when your President announces from Brussels that 2021 growth will be at least 10.2% in 2021
0

What Jumps Out – A Double Edged Sword (10.2% Growth In 2021)…

Posted On February 15, 2022
, By Rupert Stebbings




Search

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022
Colombia’s attorney general charged Russian national Sergein Vagin and six other people

Alleged Russian Spy Charged…With Running A Gambling Mafia

Posted On April 12, 2022

Viva Launches Nonstop Routes To Buenos Aires, Argentina From Medellín & Bogotá, Colombia

Posted On April 12, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Court Blocks Colombia’s $370 Million USD Emergency Loan To Bankrupt Avianca Airlines

Posted On September 12, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

AVIANCA IS BANKRUPT

Posted On May 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

[…] Duque’s administration will...

Posted On March 8, 2022

[…] See also: 13 Police Injured In...

Posted On March 3, 2022

Watch This!

Consider Advertising With Us

Click here to visit Expat Group's English site

Subscribe Free

don't forget to include "http://"
* = required field
Your Background / Function








unsubscribe from list

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

Watch This!

Contact Us (Click the image):

Pages

  • About Us
  • Colombia Events, Conferences, Festivals and Important Dates
  • Contact Us
  • main
  • Media Partnerships
  • Privacy Policy
  • Search Results
  • Whatsapp test page
Copyright 2014-2020 Finance Colombia All Rights Reserved. We may earn commissions from qualifying purchases.
Posting....
WhatsApp us