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Colombia’s oil exports were worth $10.27 billion in 2009, up from $6.33 billion in 2006, according to a government report released Monday.
The Ministry of Mines and Energy said that the oil industry now accounts for 3.2% of Colombia’s GDP, up from 1.8% in 2006.
Foreign direct investment in the oil and hydrocarbons sector was over $2.95 billion last year, from just under $2 billion in 2006.
Meanwhile Colombia’s oil reserves have increased by 32.5% in the same period, to almost 2 billion barrels. The country’s oil production is expected to reach is expected to reach 788,000 barrels a day by the end of 2010.
