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Among The Winners in Colombian Oil Bigging: Shell And Ecopetrol
Nov. 21, 2012 09:59AM PST
Resource Investing News Colombia awarded new oil and natural gas blocks today as the fastest-growing major oil producer in Latin America looks to commence offshore exploration and join the global shale boom.
Colombia awarded new oil and natural gas blocks today as the fastest-growing major oil producer in Latin America looks to commence offshore exploration and join the global shale boom.
Highlights of market news:
– Colombia is looking to raise output above 1 million barrels a day by expanding in areas once dominated by guerrilla groups
– Ecopetrol will operate three of the five so-called unconventional blocks alone and partner with Exxon Mobil in the other two
– Colombia’s oil production jumped 72 percent since 2007
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