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Colombia is becoming Latin America's new rising star of international oil industry

Friday, March 9, 2012

Brazil is strongly associated with rising oil production in Latin America, yet the region has another rising star shaping prices and industry trends: Colombia.

Over the past five years, Bogotá has had as much new crude oil production as Brasilia has done, contributing to increased non-Opec supplies.

Oil output in Colombia increased nearly 450,000 barrels a day between January 2007 and December 2011, compared with 500,000 in Brazil over the same period.

Source: Financial Times