Colombia is not an oil country, but it depends heavily on the extractive sector in many economic aspects. The National Administrative Department of Statistics (DANE) published preliminary Colombian export figures, highlighting the role of the oil and mining sectors.
Geopark (NYSE: GPRK) announced its independent oil and gas reserves assessment for 2017, certified by DeGolyer and MacNaughton Corp (D&M). The company reported consolidated and Colombia reserves growth.
I have a deserved reputation for being a curmudgeon – always complaining – but looking at the statistical evidence, and listening to the industry, 2018 could shape up to be a good year. I am – shock! horror! – optimistic.
Mauricio Cárdenas, Minister of Finance (MinHacienda), spoke about current oil prices and its possible benefits in the Colombian economy. Additionally, President Santos spoke about sustainable development to the World Economic Forum in Davos, Switzerland.
The oil sector has presence in several regions of the country. Oil production in Colombia showed stable performance during 2017, but which are the main producing municipalities? Here are the top 10 oil producers during last year.