Colombia’s oil and gas reserves fall despite Petro initiatives

Colombia’s natural gas reserves fell to the lowest level since at least 2007 and oil reserves are also down, which puts pressure on the president, gustavo petroto reconsider its ban on further exploration for fossil fuels.

natural gas reserves fell to the equivalent of 7.2 years of production at the end of last year, from 8 years in 2021, according to the National Hydrocarbons Agency (ANH).

The country had 2.040 million barrels in reserves Crude tests, the equivalent of 7.5 years of production, below the 7.6 years of production of the previous forecast.

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Although the Petro Administration has refused to issue new oil exploration licenses, the ministries of Energy, Finance and Industry said in March that the new report on reserves would be key in defining from politics onwards.

Translated by Malú Poveda.

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