Colombian oil production growth shows sector 'reactivation'

Colombian crude oil production rose 1.3% year-on-year in 2018, reflecting improved industry sentiment, according to the country's mines and energy ministry.

Output averaged 865,127b/d, up from 854,121b/d in 2017, the ministry said in a statement.

Meanwhile, natural gas production jumped 7.5% to 907Mf3/d last year amid higher demand from thermoelectric generators on the Caribbean coast and an expansion of the gas distribution network to residential consumers.

There were 143 drilling rigs in the Andean country in December compared to 118 a year earlier.

"This indicates a reactivation of the hydrocarbon sector. We have more activity and, therefore, higher production and more investment," mines and energy minister María Fernanda Suárez said.