News and AnalysIs for

The graph shows the destinations of Ecopetrol’s crude oil exports since early 2011. This is not the whole picture obviously – other companies do not provide this helpful detail – but it is illustrative. From a peak of 77% of exports in 3Q11, the US has diminished as an export destination to less than half, 46%. The US Gulf of Mexico alone has shrunk from 68% to less than 30%. Finally in 4Q11 a new top destination was crowned, the Far East, driven by deals in India and China (although the US as a whole remains the largest customer overall).

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