IAHL Corporation (IAHL)

[Gators12]

By 2025, Colombia's natural gas supply will fall short of demand by 17% according to state-owned oil producer Ecopetrol SA. What’s more, Colombia's proven oil and natural gas reserves can last only around seven more years at the current extraction rate.

While recent gas discoveries offer some hope, Colombia is still grappling with the challenge of declining reserves and struggling production. In response, Colombia's state-run oil company, Ecopetrol, plans to invest up to $6.7 billion in 2024 to boost exploration and production activities, as well as developing new technologies to improve efficiency and sustainability in the sector.