Crude oil production in Colombia this year is on track to hit its lowest level since 2009 Colombia is in urgent need of additional investments and exploration success as proven resources have dwindled Colombia’s hydrocarbon sector is a key revenue generator for the country’s economy, representing 12% of GDP Colombia, Latin America’s third-largest oil producer after Brazil and Mexico, is in danger of losing its energy self-sufficiency and a significant part of its gross domestic product (GDP) in the future, unless the pace of exploration accelerates, a Rystad Energy report has revealed. The country’s oil and gas output along with its total proven reserves tally are in decline, while investments will likely fail to recover to pre-Covid-19 pandemic levels this decade. Crude oil production in Colombia this year is on track to hit its lowest level since 2009, currently averaging at just over 730,000 barrels per day (bpd), down […]