“As oil prices rise above $90, a barrel in Colombia presents a countercyclical behavior dropping 38% of activity from drilling new wells and impacting the local workforce and changing the trend of production growth with which we closed December 2022, which reached 785,000 barrels per day,” said Nelson Castañeda, executive president of Campetrol. In the […]
Tag: barrels of oil
Dollar price closes at $4,306 and hits numbers for August 2022
This Monday, the currency closed at $4,306.95 on average, about $48.85 below the TRM, which will stand at $4,355.80 through the end of this day. These figures have not been seen since August last year. At the moment, these data are the lowest of 2023. President Gustavo Petro has announced via his Twitter account that […]
OPEC agrees to cut oil production until 2024
The United Arab Emirates (UAE), Iraq and Oman have announced the extension of their voluntary reductions in oil production until the end of 2024, as also stated by Saudi Arabia, complying with the decision of the oil and energy ministers last month. Sunday of the OPEC+ alliance, consisting of 23 countries. UAE will cut crude […]
OPEC announces cuts in oil production
In a statement, the Organization of Petroleum Exporting Countries (OPEC) alludes to roads and unexpected decisions already communicated by several countries on Sunday about new oil supply restrictions that have driven up the price of crude oil. These cuts, totaling 1.16 mbar, came on top of a previously announced cut of 0.5 mbd by Russia, […]
Oil production rose in April this year
This decline occurred electrical faults in the Caño Limón field in Arauquita, Arauca, and because of the blockades in the La Cira and Infantas fields in Barrancabermeja, Santander. 51 were drilled in April wells, of which 3 are exploratory and 48 are in development. Cut to April, 228 wells have been drilled this year: 212 […]
Ecopetrol’s first quarter revenue was $32.5 billion
Ecopetrol’s first quarter sales totaled $32.5 billion, representing 88.7% growth compared to $17.2 billion in the same period of 2021. The company’s net income was $6.6 billion. “We closed the first quarter of 2022 with results that continue to leverage our efforts to achieve a fair and responsible energy transition, and reiterate our commitment to […]