Oil production fell 3% year-on-year in January to 746,400 barrels daily

Colombia's oil production dropped 3% in January 2026 year-on-year to 746,400 barrels per day from 769,800 the previous year, according to Campetrol. Compared to December, it fell 0.1%, or 7,000 barrels, with the sharpest declines in Casanare.

Campetrol released its March report with January 2026 data, showing a 3% year-on-year drop in Colombia's oil production and 9.4% in natural gas. Oil output hit 746,400 barrels per day, down 23,400 from January 2025 and 7,000 from December 2025. Regionally, Casanare saw the biggest decline at 7,600 barrels fewer (-6.6%), followed by Arauca (-13.1%, 7,400 barrels) and Cesar (-22.4%, 3,900 barrels). Putumayo gained 1,400 barrels. Ecopetrol dominated with 65.1% of total output (486,000 barrels), trailed by Sierracol Energy (51,000), Frontera Energy (46,000), Geopark (42,000), and Gran Tierra Energy (26,000). Gas production reached a historic low of 1,190 million cubic feet per day (Mpcd), 123,800 Mpcd below the prior year. February gas imports averaged 193.1 Mpcd, up 27.7% from February 2025. Active rigs in February numbered 112, the highest since December 2023, including 32 drilling rigs in departments like Meta (13), Casanare (7), and Putumayo (3).

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Illustration of a Colombian factory during industrial production decline in January 2026, with workers reviewing falling output charts.
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Colombia's industrial production falls 0.5% in January 2026

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DANE reported that manufacturing industrial production fell 0.5% in January 2026 compared to January 2025, with real sales down 0.7%. This marks two consecutive months of production contraction and three for sales.

In January 2026, imported gas accounted for 21% of total consumption in Colombia, according to Upme data. This figure highlights the rising trend in imports due to declining local reserves, as warned by Naturgas, which forecasts 26% by year's end.

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The Dos Bocas refinery and the rehabilitation of the National Refining System boosted Pemex's production in 2025, covering 52.9% of the gasolinas commercialized and reducing imports to their lowest level in 16 years. For diesel, coverage reached 92% of domestic demand. This improvement marks the largest increase in four years for gasolinas and a decade for diesel.

Petróleos Mexicanos (Pemex) reported a fifth consecutive year of rising gasoline production in 2025, reaching 511,000 barrels per day, during the presentation of its 2026 plan. The company also disclosed that its debt hit the lowest level in 11 years and clarified details on crude oil sales to Cuba. These developments are part of the Mexican government's energy sovereignty strategy.

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The Ecuadorian government announced a 900% increase in the tariff for transporting Colombian crude through the Transecuatoriano Pipeline, rising from about $2.5 per barrel to over $30. Ecopetrol, impacted by this unilateral measure, is exploring options like exporting via Coveñas to mitigate effects on its southern Colombia operations. Colombia's Ministry of Mines and Energy rejected the decision, calling it an aggression threatening production in Putumayo.

From April 1, 2026, gasoline prices in Colombia rose by $375 per gallon, lifting the national average to $15,449. In Cali, prices are around $15,900, with diesel up $81 per gallon. The increase reverses prior cuts timed with legislative elections, prompting political debate.

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Colombia's exports reached US$4.211.6 million in February, up 11.4%, according to the Dane. Non-monetary gold and the agricultural sector drove the rise, while fuels, coal, and manufacturing saw declines.

 

 

 

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