English

The oil and gas sector continues to reopen

The drop in international prices has caused a reduction in Colombia’s crude oil production of around 2.39%, from 878 kpbd to 857 kpbd in April 2020. Additionally, the current health emergency has affected the main variables, such as investment, exploration, production, and expected price, as shown below: 

English
The Colombian government has taken several measures to manage the crisis in the oil and gas sector caused by the fall in international WTI and Brent prices, reaching up to 80% and 70% respectively, since December 2019, as well as the decrease in the global demand for crude oil due to the COVID-19 pandemic