Tag: Oil production

Shell performed the first offshore drilling of the year

Shell performed the first offshore drilling of the year

That is stated in the report Drilling and Production of the Colombian Chamber of Oil, Gas and Energy Goods and Services (Campetrol), indicating that Ecopetrol is expected to start drilling Orca Norte 1 at the end of November this year. However, according to Campetrol, there was a downward trend in the total number of active […]

Oil production increased by 3.2% in the third quarter

Oil production increased by 3.2% in the third quarter

In the first three months of the year, preliminary oil production was 767.5 thousand barrels of oil per day (BPPD), a growth of 3.2% over the same period in 2022. This is according to the most recent drilling and production report from the Colombian Chamber of Oil, Gas and Energy Goods and Services (Campetrol). This […]

OPEC announces cuts in oil production

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 fell in February due to public order problems

Oil production fell in February due to public order problems

Drilling activity has maintained a downward trend for the past three months, ranging from 155 active teams in November 2022 to 142 in February 2023, a drop of 13 shifts (8.4%). Oil rigs went out during this period 60 to 51 with a 15% drop, while the maintenance exercises of 9 went5 to 91, down […]

Oil production rose in April this year

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 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 […]

Weakening oil and gas industry would hit the economy

Weakening oil and gas industry would hit the economy

The weakening of the industry of oil and gas It would have major implications for the country’s economy as investments of $105 billion would be halted over the next four years and $18 billion in tax contributions and royalties from companies in the sector would be lost to the nation and regions. This is what […]

Oil and gas revenue could reach $105 billion: ACP

Oil and gas revenue could reach $105 billion: ACP

The Colombian Oil and Gas Association (ACP) prepared the economic report “Energy policy scenarios and their impact on Colombians,” on the contributions the sector could make to the country over the next four years, and even this decade, according to the country’s direction for the Next presidential elections. Two scenarios are presented, one of maintaining […]

Oil production rose in March to 751 thousand barrels per day

Oil production rose in March to 751 thousand barrels per day

This behavior is explained by the recovery in the production of the fields Yarigui-Cantagallo (Cantagallo-Bolívar), Rubiales (Puerto Gaitán-Meta), Quifa (Puerto Gaitán-Meta), Indico (Cabuyaro-Meta), Chichime SW (Acacias/Guamal-Meta). When comparing production to the same month of 2021, there is an increase of 0.8%, from 745,427 BOPD to 751,407 BOPD in the third month of 2022. In terms […]

No immediate increase in oil production expected: ACP

No immediate increase in oil production expected: ACP

The chairman of the Colombian Petroleum Association (ACP), Francisco Lloreda, said that even with these high oil prices resulting from the war in Ukraine, an immediate increase in oil production in the country is not expected, more than expected. “It must be taken into account that the exploration and production of hydrocarbons it is characterized […]

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