Sandwiched between OPEC members Ecuador and Venezuela, Colombia has for decades looked like an Andean misfit because it was not a major oil exporter. But when Venezuela's foreign minister visited Bogotá in November, he reportedly asked his counterpart, "When is Colombia going to join OPEC?" Quietly, Colombia has become the fourth-largest oil producer in Latin America, after Venezuela, Mexico and Brazil.
Today, Colombia produces nearly 1 million barrels of oil per day (bpd), almost double its output in 2005. By 2015, Colombia's oil minister expects the country to produce 1.5 million bpd. ...
To read the rest, sign up to try World Politics Review
- TWO WEEKS FREE.
- Cancel any time.
- After two weeks, just $18 monthly or $118/year.
Request a free trial for your office or school. Everyone at a given site can get access through our institutional subscriptions.
- To Rebound After Defeat, El Salvador’s ARENA Must Move Beyond Fear
- NSA Leaks Fallout Will Fade Faster Than Hit to U.S. Pride
- Strategic Horizons: Amid Debate, U.S. Shares Drone Approach With Partners
- Cuba’s New Foreign Investment Law Is a Bet on the Future
- World Citizen: Venezuela, Once an Ideological Magnet, Now Worries Region