Latin America · COL
Colombia
Hydro at home, coal and oil for export. El Niño is the system operator.
Oil production
0.8 mb/d
0.4 mb/d demand
Net oil
+0.4 mb/d
Export surplus
Gas production
11 bcm
Net -1 bcm
O&G rent
3.6%
Fiscal breakeven $55
Oil balance
Production versus demand, 2025, million barrels per day.
Production0.8 mb/d
Consumption0.4 mb/d
Gas balance
Production versus demand, 2025, billion cubic metres.
Production11 bcm
Consumption12 bcm
Proven oil
2 bn bbl
Gas reserves
0.1 tcm
Refining
0.4 mb/d
LNG
No LNG
Hydrocarbon mix
Oil versus gas in this country’s oil-and-gas demand (oil-equivalent).
- Oil46%
- Gas54%
Economy
Ecopetrol dividends and thermal-coal royalties still matter to Bogotá. A ban on new contracts is a 2030s fiscal debate, not a 2026 supply event.
- GDP
- $0.4 tn
- Population
- 53.0 m
- Oil intensity
- 0.3 bbl /$1k
- Oil & gas rent
- 3.6% GDP
- Hydrocarbon trade
- -2.4% GDP
- Fiscal breakeven
- $55 /bbl
- $30 oil shock
- +10.9 pp GDP
- Club
- Independent
Projected oil demand
Regional IEA WEO 2025 oil pathways applied to this country’s 2025 baseline. STEPS 2035 demand 0.4 mb/d (net +0.7) versus NZE 0.3 mb/d (net +0.3).
| Scenario | 2025 | 2030 | 2035 | 2050 |
|---|---|---|---|---|
| Stated Policies | 0.4 | 0.4 | 0.4 | 0.4 |
| Net Zero 2050 | 0.4 | 0.3 | 0.3 | 0.1 |
| Current Policies | 0.4 | 0.4 | 0.4 | 0.5 |