After an exceptionally tough 2020 and poor start to 2021 for Colombia’s oil industry, the country’s energy ministry is betting on an offshore oil exploration boom to revive the economically crucial hydrocarbon sector’s fortunes. A lack of major hydrocarbon discoveries for more than two-decades, coupled with a lack of proved petroleum reserves, are weighing heavily on Colombia’s economy. Those issues are exacerbated by an emerging domestic security crisis, heightened political turmoil, nationwide anti-government protests…
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