Colombia speeds up permits for oil companies

Colombia, South America's number three oil supplier, is speeding environmental permits for oil companies as delays threaten to derail an output target of 1 million barrels a day this year.

Fields awaiting permits include Rubiales, the nation's largest, said Orlando Cabrales, president of the state-run regulator, National Hydrocarbons Agency.

Colombia will need new oil discoveries to repeat a surge in production tha talmost doubled the country's ouptut since 2006, said Cabrales.



Source: Bernama