IKN

Every why hath a wherefore

Colombia’s oil production growth stalls

Blame the pipeline explosions or blame the recent strikes at the Rubiales field, but when push comes the shove the baseline is that Colombia’s much-vaunted oil boom has stalled in the last few months.
Today we had Colombia’s Ministry of Energy and Mines inform the world that the preliminary total for February 2012 was 896,000 barrels per day, which is of course up on the 862kbbl/d from the same month of last year but is behind all months since April 2011 bar one (the 891kbbl/d of September’11). So once again reality bites where a politico’s words once stood, as President Juanma Santos has had the one million barrels per day obsession for a while now and after promising it by the end of the year (fail), went for it again on January 13th with these words:
“We’re not going to achieve this million barrels (of production per day) in August of 2014, I believe we’re going to get there this month or next month at the latest.”
But hey, what’s a hundred and four thousand barrels between friends anyway?
The other stats for that chart above come from here.

UPDATE: Reader ‘PW’ writes in to ask if a YoY growth percentage chart is possible from those numbers (the same way as seen in the Peru electricity post on Tuesday). Yup PW, can do, here you go and I’ve even thrown in a best fit line to see where the four year trend lies:

Next month’s number will be an interesting one by the looks of this chart, methinks.

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.