Despite being wracked by nationwide anti-government protests the prospects for Colombia’s beaten-down oil industry are improving. Most of the protests and blockades of major roads have been ended allowing onshore drillers to recommence operations. Another important development is the progress of allowing hydraulic fracturing in the strife-torn Andean country. This controversial technique for extracting oil and natural gas has faced strong and lengthy opposition in Colombia. It was touted by crisis-driven president Ivan Duque during late-2018 as a means of resolving a critical problem facing Colombia’s oil-dependent economy, its lack of proven oil and natural gas reserves. There have been no major hydrocarbon discoveries in Colombia since 2009 . Energy ministry data shows (Spanish) that at the end of 2020 proved reserves were 1.8 billion barrels, an 11% reduction compared to 2019, which is sufficient to support six years at the current rate of production, and just under 3 […]