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Range of Colombia's oil production by end of 2024
5
Resolution / Starting Odds
Less than 800,000 barrels/day • 33%
800,000 to 899,999 barrels/day • 34%
900,000 barrels/day or more • 33%
Official year-end production data from Colombia's energy ministry
Story
Colombia Aims to Boost Oil Output to 1 Million Barrels Per Day Despite Declining Reserves
May 24, 2024, 01:47 PM
Colombia's energy ministry is targeting an increase in oil production to 1 million barrels per day by pressuring drillers to ramp up activity in underused exploration blocs. The energy minister aims to boost production to 800,000 barrels per day by the end of the year, up from 774,000 barrels per day in the first quarter. This initiative comes despite the country's bold climate stance. The ministry intends to leverage existing 'lazy contracts' to achieve these goals. Colombia's oil and gas reserves declined slightly during 2023.
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Less than 500,000 barrels per day • 33%
Between 500,000 and 1 million barrels per day • 33%
More than 1 million barrels per day • 33%
Less than 350 million barrels • 25%
350-375 million barrels • 25%
375-400 million barrels • 25%
More than 400 million barrels • 25%
Below 9 million barrels per day • 33%
Between 9 and 9.393 million barrels per day • 33%
Above 9.393 million barrels per day • 33%
Below 400 million barrels • 25%
400-450 million barrels • 25%
450-500 million barrels • 25%
Above 500 million barrels • 25%
Less than 100,000 barrels per day • 33%
100,000 - 200,000 barrels per day • 34%
More than 200,000 barrels per day • 33%
Less than 50 million barrels • 25%
50-100 million barrels • 25%
100-150 million barrels • 25%
More than 150 million barrels • 25%
1.10 million BPD • 25%
1.20 million BPD • 25%
1.00 million BPD • 25%
0.90 million BPD • 25%
Less than 40 million barrels • 25%
40-50 million barrels • 25%
50-60 million barrels • 25%
More than 60 million barrels • 25%
Less than $75 per barrel • 25%
$75 to $80 per barrel • 25%
$80 to $85 per barrel • 25%
More than $85 per barrel • 25%
Less than 90 million bpd • 33%
90-95 million bpd • 33%
More than 95 million bpd • 33%