Colombia oil output up, reserve growth lags

摘要

Bogota-Although Colombia's crude oil production continued to set records in May, registering a 19.4% year-on-year increase, updated end-2010 reserve figures due soon are likely to disappoint, showing only a slight increase over 2009, Mining and Energy Minister Carlos Rodado said June 2. Speaking at a press conference, Rodado said the 927,000 b/d average oil production in May was up from 776,000 b/d in the same month last year and a 24,000 b/d increase from April of this year. The gain has put the country on course to exceed its goal of 920,000 b/d for all of 2011, a target that is 17% higher than the 2010 average.