Wednesday, September 27, 2023

Logo Central America Link

Guatemala sees less oil investment

Friday, December 5, 2014

The international low price of oil could cause a drop in oil exploration and exploitation projects in Guatemala, said Luis Ayala, hydrocarbons director of the country's Energy Ministry.

Guatemala's oil production has been declining at an average rate of 6 percent each year since 2004, from 9.2 million barrels to 3.6 million barrels per year in that period.

However, production was buoyed by $300 million in investments from 2012 to 2014.

Source (in Spanish): Prensa Libre