Colombia’s Oil Industry Faces Continued Coronavirus Slump

2020 output averaged 100,000 b/d under 2019. Unconventional resources hold the key to output turnaround. Refined product exports a bright spot.

RIO DE JANEIRO, BRAZIL - A measure of the pandemic's impact is that Colombia's output in 2020 is averaging 100,000 b/d less than it was in 2019. A small fraction of that decline was anticipated prior to the pandemic, due to the aging of the country's major oil fields.

But the bulk of the miss is due to declining demand and the restrictive work rules imposed by wildcatters to protect office and oil field employees from the virus, resulting in the closure of some 50 oil fields last spring.

The Colombian Petroleum Association (ACP) and S . . .

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