Colombia May Lose Energy Independence As Crude Production Falls

Colombia, Latin America’s third-largest oil producer after Brazil and Mexico, is in danger of losing its energy self-sufficiency and a significant part of its gross domestic product (GDP) in the future, unless the pace of exploration accelerates, a Rystad Energy report has revealed. The country’s oil and gas output along with its total proven reserves tally are in decline, while investments will likely fail to recover to pre-Covid-19 pandemic levels this decade. Crude oil production in Colombia this year is on track to hit its lowest…