Colombia produced 623 thousand barrels of crude oil in October, which is a 13 percent increase compared to the same month last year, the country’s Hydrocarbon Agency announced.
The oil production has been on the rise throughout the year, but there’s concern about the continuation of the production. The past year no significant oil reserves were found, Ecopetrol director Javier Gutierrez admitted to newspaper La Republica.
The lack of newly discovered oil fields also concerns Congress. Senator Hugo Serrano (Partido Liberal) says Colombia doesn’t lacks expertize to be able to track down new oil field. “The studies and decisions by Ecopetrol are being made by inexperienced personnel. We haven’t found one big oil field in 27 years,” the opposition senator said.
Congress also expressed its concern of oil revenues for next year now the price of a barrel of crude oil has plummeted.