Colombia’s establishment candidate disappoints in election polls
Colombia’s far-right trying to postpone presidential elections
Colombia’s opposition embarks on anti-election fraud offensive
Establishment candidate in Colombia’s elections linked to mafia
Far-right group goes from opposing communism to opposing...
ELN declares unilateral ceasefire ahead of Colombia’s elections
Colombia’s opposition dismisses US claim of ‘Russian threat’
Colombia’s drug policy a ‘failure’ that obstructed peace:...
Medellin government rejects ‘illegitimate’ interim mayor
Electoral violence in Colombia doubled since 2018
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Colombia’s May oil output reaches 927,000 bpd: Official

by Adriaan Alsema June 3, 2011

Colombia news - oil barrels

Colombia’s oil production continued to surge in May, pushing the country closer to its production target of 1 million barrels per day for the year, Mining Minister Carlos Rodado said Thursday.

Oil production in May averaged 927,000 barrels per day, extending a streak of record output figures for Colombia. Oil output in May of last year stood at 776,000 barrels per day.

The May figure surpasses the government’s official goal of producing 920,000 barrels per day in 2011 included in its five-year National Development Plan, Rodado said. The country also increased its oil reserves to nearly 2 billion barrels from 1.98 billion barrels in 2009, the minister added.

Colombia has seen massive inflows of foreign investment to develop its oil and natural gas industries as a result of the government’s market-friendly policies and its success in gaining control of territory once held by Marxist guerrillas.

The government hopes to sign 70 exploration-and-production contracts this year and 40 contracts per year from 2012 to 2014 in a move geared at booking new oil reserves. The government’s target is to reach an average oil output of 1.15 million barrels per day by December 2014.

economyoil

Trending

  • Why Colombia’s upcoming elections could trigger a crisis

  • Colombia’s inspector general suspends mayors on election meddling charges

  • Medellin government rejects ‘illegitimate’ interim mayor

Related articles

  • Gross domestic product

  • Labor and unemployment

  • Scholars’ drastic solutions for Colombia | Part 1: renegotiating free trade

  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top