Colombia Oil and Gas Report - Business Monitor International - Industry Reports

Colombia Oil and Gas Report

Colombia Oil and Gas Report - Business Monitor International - Industry Reports
Colombia Oil and Gas Report
Published Sep 10, 2016
110 pages — Published Sep 10, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

According to the Energy Administration Agency (EIA), Colombia s proven oil reserves were at -.-bn barrels (bbl) at end-----, unchanged from ----. The EIA reported the country s proven gas reserves at ---.-bn cubic meters (bcm) in ----, down from the ---- level of ---.-bcm. ...We now forecast a decline in overall reserve growth over the course of our ---year forecast period, averaging ---.- y-o-y. We note that while the national oil company (NOC) Ecopetrol increased its audited proven (-P) reserves by -.- in ----, this increase was due to revisions at existing fields which failed to substantially increase Colombia s reserve to production ratio. Proven reserves have been described as uncomfortably low by the vice president of the country s national hydrocarbon association, highlighting that production rates of -- years and higher are considered desirable. ...We note that while the national oil company (NOC) Ecopetrol increased its audited proven (-P) reserves by -.- in ----, this increase was due to revisions at existing fields which failed to substantially increase Colombia s reserve to production ratio. Proven reserves have been described as uncomfortably low by the vice president of the country s national hydrocarbon association, highlighting that production rates of -- years and higher are considered desirable.

...According to the country s Mines and Energy Ministry, the production levels declined to ---,---b/d in June ----, marking a -- year-on-year decline. This quarter we have further downgraded our ---- production forecast due to persisting attacks on the country s mid-stream infrastructure. ...Other liquids are forecast to add another --,---b/d to that figure. We have slightly lowered our forecasts for Colombia s gas production as the country s national oil company is focusing primarily on the oil sector, while the private investment into the gas sector is declining. We now expect gas output to decline by -.- year-on-year to -.-bcm in ----. ...We now expect gas output to decline by -.- year-on-year to -.-bcm in ----. By ----, we expect the country s gas output to fall to -.-bcm.

...Earlier in ----, Ecopetrol has indefinitely postponed its plans to modernize Barrancabermeja refinery due to low oil prices. As a result, we have downgraded our forecasts for Colombia s refined products output, which we see increasing by an annual average rate of -.- during ---------. ...

  
Source:
Document ID
1748-3905
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Colombia Oil and Gas Report" Sep 10, 2016. Alacra Store. Dec 04, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Colombia-Oil-and-Gas-Report-2026-394>
  
APA:
Business Monitor International - Industry Reports. (2016). Colombia Oil and Gas Report Sep 10, 2016. New York, NY: Alacra Store. Retrieved Dec 04, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Colombia-Oil-and-Gas-Report-2026-394>
  
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