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Colombia hails 5 percent increase in oil reserves

Friday, May 3, 2013

Colombia’s minster of Mines and Energy, Federico Renjifo, announced that the country’s oil reserves increased by 5 percent from 2011 to 2012.

As of the end of last year, petroleum reserves were sitting at over 2.3 billion barrels, according to Renjifo.

Of the 464 million barrels that have been produced since the end of 2012, 33 percent came from new discoveries.

Source: Colombia Reports