Colombia Oil and Gas Report Q1 2016

Date: December 9, 2015
Pages: 134
US$ 1,295.00
Report type: Strategic Report
Delivery: Download
ID: C791F53D986EN

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Includes 3 FREE quarterly updates

BMI View: Colombia's energy sector is nearing an inflection point. While the past decade has witnessed strong production growth due to improvements in the business and security environment, we caution that the country will experience downward pressure on oil production over the longer term. The tendency toward smaller finds, as well as recent increases in pipeline attacks have begun to show signs of decreased investor interest in Colombia's resources, as witnessed in the 2014 licensing rounds. Furthermore, sustained lower oil prices have threatened the development of upstream and downstream projects by both national and international investors. Given ongoing below and above-ground challenges, we maintain a cautious stance toward the future of Colombia's hydrocarbon productivity.

The key trends and developments in the Colombian oil and gas sector are:
  • Continued progress at the bilateral peace talks between the government and insurgent rebels have provided a temporary boost to output. However, lower oil prices have maintained downside pressure on upstream activity.
  • The Ministry of Mines and Energy (MME) announced a 25% reduction in tax rates for some offshore drillers in addition to being exempt from value added taxes (VAT). This policy hopes to incentives further offshore drilling and development off of Colombia's Caribbean coast, however we caution that this is unlikely to materially change activity levels amid a broad industry downturn.
  • The modernised Refineria de Cartagena SA (Reficar) is expected to reach full capacity in Q116. This will add 85,000 b/d of downstream capacity which will service growing domestic demand over the next several years.
BMI Industry View
  Table: Headline Forecasts (Colombia 2013-2019)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Colombia Key Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Colombia 2013-2018)
  Table: Oil Production (Colombia 2019-2024)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Belgium 2013-2018)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Colombia 2013-2018)
  Table: Refining Capacity and Refined Products Production (Colombia 2019-2024)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption (Colombia 2013-2018)
  Table: Refined Products Consumption (Colombia 2019-2024)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Colombia 2013-2018)
  Table: Gas Consumption (Colombia 2019-2024)
Trade - Oil
Crude Oil
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Colombia 2013-2019)
  Table: Crude Oil Net Exports (Colombia 2019-2024)
Refined Products
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Colombia 2013-2018)
  Table: Refined Fuels Net Exports (Colombia 2019-2024)
Trade - Gas (Pipeline and LNG)
Latest Updates
Structural Trends:
  Table: Gas Net Exports (Colombia 2013-2018)
  Table: Gas Net Exports (Colombia 2019-2024)
Industry Risk Reward Index
Latin America - Risk/Reward Index
  Table: Latin America Composite Risk/Reward Index, Out of 100
Upstream RRI: Few Shifts, But Changes Loom
  Table: Latin America Upstream Risk/Reward Index, Out of 100
Downstream RRI: Medium-Term Outlook Reinforces Current Dynamics
  Table: Latin America Downstream Risk/Reward Index, Out of 100
Colombia Risk/Reward Index
Colombia Upstream Index - Overview
Colombia Upstream Index - Rewards
Colombia Upstream Index - Risks
Colombia Downstream Index - Overview
Market Overview
Colombia Energy Market Overview
Overview/State Role
Licensing And Regulation
  Table: Royalty Rates
International Energy Relations
Oil And Gas Infrastructure
  Table: Refineries In Colombia
Service Stations
Oil Terminals/ Ports
Oil Pipelines
LNG Terminals
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
  Table: Key Players - Colombian Oil & Gas Sector
Company Profile
Empresa Colombiana de Petroleos (Ecopetrol)
ExxonMobil Colombia
Pacific Exploration & Production
Other Summaries
Regional Overview
Latin America Overview
  Table: Latin America Oil & Gas Production, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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