Struggling Colombian oil sector sees slight production increase

The Colombian Mines and Energy Ministry reported on 14 October 2016 that average oil production for September 2016 stood at 859,000 barrels per day (bpd), a 3.8 percent increase from August 2016, when 827,000 barrels were produced daily (DATAiFX). September 2016 oil production levels registered a 14.8 percent drop compared to production in September 2015, which was just over 1 million bpd (América Economía). After the addition of September’s figures, Colombia’s 2016 annual cumulative average (ACA) comes to 899,000 bpd (DATAiFX). Colombia closed 2015 with an ACA of over 1 million bpd, although monthly production has not reached those levels since October 2015. Natural gas production reached 968 million cubic feet per day in September 2016, an 18 percent drop from September 2015 (América Economía).