Ecopetrol did not meet 2011 oil production target

Colombia’s state-controlled oil company Ecopetrol did not meet its 2011 target of producing one million barrels of crude oil per day.

According to the Ministry of Mines and Energy average crude oil production for the year reached 982,000 barrels with average production in December only registering 930,000 barrels.

The ministry highlighted the fact that production increased toward the end of the month claiming this is evidence that “everyday we are ever closer to the million barrels, a goal which the country will achieve in the coming weeks.”

Average production for the first 11 months of 2011 registered 912,000 barrels a day, indicating that producing is indeed growing and the million barrel a day goal could be reached in the next few months.

Newspaper El Espectador reported that according to ministry officials protests in oil producing areas, especially in Puerto Gaitan, added to road travel restrictions for cargo and the closing of the Caño Limón Coveñas oil pipeline were the reasons why the target was not achieved.

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