The collapse in global oil prices has led to a steep decline in investment in Colombia’s hydrocarbons sector and reduced the value of its oil exports, depleting a key source of government revenue.
What is the outlook for Ecopetrol and the Colombian oil sector in the short to medium term?
Across Latin America, the sustained decline in global oil prices has had a profound impact on economic growth, political stability and the viability of resource nationalism – when governments assert more control over the nation’s natural resources.
