Investment in Colombia oil and gas industry fell 49% in 2020
01/29/2021 | 01:15pm EDT
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BOGOTA, Jan 29 (Reuters) - Investment in Colombia's oil and
gas industry fell 49% to $2.05 billion last year, the lowest
since 2016, with exploration investments sliding as the
coronavirus pandemic slashed global fuel demand, the private
producers association said on Friday.
Spending on exploration projects fell to $350 million in
2020 from $780 million in 2019. The total was 62% below
estimates made at the start of last year, the Colombian
Petroleum Association (ACP) said in a report.
Similarly, production investment dropped to $1.7 billion
last year, down 48% versus 2019 and significantly below the