Colombia Oil and Gas Report

 Published On: Sep, 2016 |    No of Pages: 110 |  Published By: BMI Oil and Gas | Format: PDF
Request Free Sample
BMI View: Our outlook for Colombia's oil and gas sector remains downbeat as lower oil prices are weighing on the development of upstream and downstream projects by national and international investors. As such, further expansion of the sector will become increasingly dependent on state-owned Ecopetrol. While the recent government's peace deal with FARC rebels should improve the operating environment, we note the continued risk of attacks on oil and gas infrastructure due to the presence of other guerrilla groups.

Latest Updates And Key Forecasts

-In August 2016, Colombia's national oil company Ecopetrol said it will intensify exploration activities in the country and plans to drill 80 new wells until the end of 2016 on top of 25 wells which have been drilled already in 2016. Most of the new wells will be located in Rubiales and Castilla fields.

-International oil companies in Colombia are continuing to face strong opposition against unconventional oil and gas exploration using fracking. In August 2016, the media reported about another large protest in Valparaiso.

-According to the country's Mines and Energy Ministry, the production levels declined to 888,000b/d in June 2016, marking a 12% year-on-year decline.

-This quarter we have further downgraded our 2016 production forecast due to persisting attacks on the country's mid-stream infrastructure. We now project crude oil and condensates output to decrease by 8.1% to 924,510b/d. Other liquids are forecast to add another 27,410b/d to that figure.

-We have slightly lowered our forecasts for Colombia's gas production as the country's national oil company is focusing primarily on the oil sector, while the private investment into the gas sector is declining. We now expect gas output to decline by 4.0% year-on-year to 9.4bcm in 2016. By 2025, we expect the country's gas output to fall to 8.6bcm.
BMI Industry View ............... 7
Table: Headline Forecasts (Colombia 2014-2020)............ . . . . . . 7
SWOT .... 9
Oil & Gas SWOT ....... 9
Industry Forecast .............. 11
Upstream Exploration .............. 11
Latest Updates ....... 11
Structural Trends ... 11
Upstream Projects ... 16
Table: Colombia - Key Upstream Projects............. . . . . . 16
Upstream Production - Oil ........ 22
Latest Updates ....... 22
Structural Trends ... 22
Table: Oil Production (Colombia 2014-2019)............. . 30
Table: Oil Production (Colombia 2020-2025)............. . 30
Upstream Production - Gas ....... 31
Latest Updates ....... 31
Structural Trends ... 31
Table: Gas Production (Colombia 2014-2019)............. . 34
Table: Gas Production (Colombia 2020-2025)............. . 35
Refining . 36
Latest Updates ....... 36
Structural Trends ... 36
Table: Refining Capacity And Refined Products Production (Colombia 2014-2019)........ . 38
Table: Refining Capacity And Refined Products Production (Colombia 2020-2025)........ . 38
Refined Fuels Consumption ....... 39
Latest Updates ....... 39
Structural Trends ... 39
Table: Refined Products Consumption* (Colombia 2014-2019)..........41
Table: Refined Products Consumption* (Colombia 2020-2025)..........41
Gas Consumption .... 42
Latest Updates ....... 42
Structural Trends ... 42
Table: Gas Consumption (Colombia 2014-2019)............ . . . . . . 44
Table: Gas Consumption (Colombia 2020-2025)............ . . . . . . 44
Trade - Oil ............. 45
Crude Oil ............. 45
Latest Updates ....... 45
Structural Trends ... 45
Table: Crude Oil Net Exports (Colombia 2014-2020)............ . 48
Table: Crude Oil Net Exports (Colombia 2020-2025)............ . 48
Refined Products .... 48
Latest Updates ....... 48
Structural Trends ... 48
Table: Refined Fuels Net Exports (Colombia 2014-2019)........... . . . . . 50
Table: Refined Fuels Net Exports (Colombia 2020-2025)........... . . . . . 50
Trade - Gas (Pipeline and LNG) . 51
Latest Updates ....... 51
Structural Trends ... 51
Table: Gas Net Exports (Colombia 2014-2019)............. 55
Table: Gas Net Exports (Colombia 2020-2025)............. 55
Industry Risk Reward Index ............. 56
Latin America - Oil & Gas Risk/Reward Index .............. 56
Table: Latin America - Composite Risk/Reward Index............ . 56
Composite RRI: Continued Adjustments Level Off Rankings ........... 57
Upstream RRI: Steady Scores Mask Forthcoming Shifts 58
Table: Latin America - Upstream Risk/Reward Index............ . . 59
Downstream: NOC Dominance Will Reinforce Fuels Deficit .......... 61
Table: Latin America Downstream Risk/Reward Index............ 63
Colombia Risk/Reward Index ..... 64
Upstream Index ..... 64
Downstream Index . 65
Market Overview ............... 67
Colombia Energy Market Overview ............ 67
Overview/State Role ............... 67
Licensing And Regulation ........ 68
Table: Royalty Rates................ . . . . 69
International Energy Relations . 72
Oil And Gas Infrastructure ........ 74
Refineries ............. 74
Table: Refineries In Colombia............... . . 74
Service Stations ..... 76
Oil Terminals/Ports 76
Oil Pipelines ......... 76
LNG Terminals ...... 80
Gas Pipelines ........ 81
Competitive Landscape .... 82
Competitive Landscape Summary ............... 82
Table: Key Players - Colombian Oil & Gas Sector............ . . . . 83
Company Profile 84
Empresa Colombiana de Petróleos (Ecopetrol) ............. 84
Latest Updates ....... 84
Table: Major Upstream Assets In Colombia............. . . . 85
Table: Key Financial Metrics (USDmn).............. 86
Pacific Exploration & Production ............... 87
Table: E&P Subsidiaries................ 88
Table: Major Upstream Assets In Colombia............. . . . 88
Table: Key Financials, USDmn............... . 88
Regional Overview ............ 90
Latin America Overview ........... 90
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025....... . . . 101
Glossary ........... 103
Table: Glossary Of Terms............... . . . . . 103
Methodology .... 105
Industry Forecast Methodology .............. 105
Source ............... 107
Risk/Reward Index Methodology ............. 107
Table: Bmi's Oil & Gas Upstream Risk/Reward Index............ 109
Table: Weighting................ . . . . . . 110
If the above report does not have the information suitable for your business, we can provide custom research that can be lucrative for your business or enhance your profession.