Colombia’s proven oil reserves fell nearly 1% in 2025, dropping to just over 2 billion barrels as the country struggles to sustain its hydrocarbon output.
Natural gas reserves suffered a far steeper decline, plunging 17% to 1.7 trillion cubic feet, raising serious concerns about the country’s long-term energy security.
The back-to-back contractions in both oil and gas reserves signal a deepening structural challenge for Colombia’s energy sector and broader economy.
Oil production compounded the reserves picture, falling to a multiyear low of 724,910 barrels per day in April 2026, the weakest level recorded since June 2021.
The production decline reflects years of underinvestment in exploration, regulatory uncertainty, and growing opposition to new fossil fuel development under the current government.
President Gustavo Petro has repeatedly signaled his intention to wind down Colombia’s dependence on oil and gas, a position that has chilled upstream investment across the sector.
Falling domestic natural gas output is already forcing Colombia to look beyond its borders for energy supplies, with costlier liquefied natural gas imports increasingly likely.
A looming El Nino drought event threatens to further strain Colombia’s energy system, which relies heavily on hydroelectric power generation during dry weather cycles.
When hydroelectric output drops due to drought conditions, Colombia historically turns to natural gas-fired power generation to compensate, creating additional demand pressure at precisely the wrong time.
The convergence of shrinking reserves, lower production, reduced domestic gas supply, and climate-driven power demand spikes is pushing Colombia toward a state of deeper energy insecurity.
The economic consequences are significant, as oil and gas export revenues have long served as a critical source of foreign exchange and government fiscal receipts for the country.
Analysts warn that without a meaningful reversal in exploration activity and investment, Colombia risks accelerating the depletion curve that is already visible in its 1P reserve figures.
The situation presents a difficult policy dilemma, balancing the administration’s environmental ambitions against the immediate economic and energy stability needs of the Colombian population.
Source: Original Article
