Tuesday, June 25, 2024

Logo Central America Link

Oil slump derails Colombia's hopes to boost shale

Wednesday, February 11, 2015

The collapse in crude oil prices is derailing Colombia’s hopes of developing shale deposits as a way of countering stagnating conventional oil reserves.

Global drillers including Exxon Mobil are deferring shale exploration plans as crude’s 48 percent drop in the past six months exacerbates concerns over gaps in rules covering hydraulic fracturing in Colombia.

Source: Bloomberg