Colombia's economy has been hit by protests and blockades
Letter from South America: Colombia needs to act on declining output
The Andean country’s recent troubles highlight the need to encourage exploration
Colombia is going through a difficult time. Recent social unrest, the first of its kind in more than a generation, has brought longstanding issues to the fore. The disorder is causing more tangible problems as well. The blockades associated with the protests had stopped the production of around 1.5mn bl of crude oil and 2.7bn ft3 (76.5mn m3) of gas as of June, according to energy minister Diego Mesa. Those are not insignificant volumes. Perhaps more worryingly, last year crude oil production in Colombia slipped below 800,000bl/d for the first time since 2010. The Andean nation’s extractive industries have always been exposed to some element of risk. The oil and gas sector was once a favourit
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
