According to a recent report by the International Energy Agency (IEA), Colombia is expected to lose its position as the third-largest oil producer in South America within the next two years.
Juan Carlos Echeverry, former CEO of Ecopetrol (NYSE: EC), wrote an article about the energy heart of Colombia.
Crude oil production was up slightly in July of this year, according to the figures posted on the ANH’s website.
The Colombian Chamber of Goods and Services (Campetrol) reported rig information for July 2024.
Colombia’s Minister of Mines and Energy (MinEnergia), Ómar Andrés Camacho, dismissed the possibility of Colombia needing to import gas from other countries, insisting that there is no immediate risk of a gas supply shortage.
For all the doom and gloom from commentators (like us!) and falling key driver statistics, oil production is up in 2024 versus 2023. Who or what is responsible?
The ANH has stopped announcing production figures in the press for reasons we can only speculate. But we checked the website based on a reader question and results for June were already published – a “mere” five weeks after the end of the month. They contained both positive news and negative news.
The Colombian Chamber of Goods and Services (Campetrol) reported rig information for June 2024.
The Colombian government has set an ambitious goal of reaching a daily oil production of one million barrels, urging oil companies to ramp up activities in exploration areas that have been underutilized.
Recently, the Ministry published gas production forecasts on a steep downslope. We do not entirely trust MinEnergia, since the president wants to justify importing gas from Venezuela so we looked at the data. The story is not good although maybe not as bad as the government wants us to believe.
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