Colombia's business environment in the oil and gas sector improved over the past decade, particularly due to the partial privatisation of state-owned Ecopetrol in 2003. The government's attempts to improve the country's security situation, particularly regarding the Fuerzas Armadas Revolucionarias de Colombia (FARC) guerrilla group, also led to increased foreign investment into the country over the past decade, translating into record oil and gas production growth. Continued progress, however, has grown increasingly tenuous as a result of weak below-ground rewards amid a lower oil price environment. With large direct investments still needed to ensure growth within the sector, we note that less favourable project economics will undermine private sector investment over the coming decade. Furthermore, while attacks on oil pipelines have declined versus years past as a result of the ongoing FARC disarmament, such disturbances continue to negatively impact the investment appeal of Colombia's hydrocarbon resources.

BMI Industry View

SWOT

Oil & Gas SWOT

Industry Forecast

Upstream Exploration

Upstream Projects

Upstream Production - Oil

Upstream Production - Gas

Refining

Refined Fuels Consumption

Gas Consumption

Trade - Oil

Trade - Gas (Pipeline And LNG)

Industry Risk/Reward Index

Upstream Oil & Gas: Vast Resources Will Attract Substantial Investment

Downstream Oil & Gas: NOC Strategy Will Limit Downstream Development

Upstream Risk/Reward Index

Downstream Risk/Reward Index

Market Overview

Oil And Gas Infrastructure

Competitive Landscape

Company Profile

Empresa Colombiana De Petróleos (Ecopetrol)

Frontera Energy

Regional Overview

Upstream Focus Defines Latam Direction

Oil & Gas Glossary

Methodology