TABLE-Colombia February oil output averages 1.03 mln bpd
BOGOTA, March 9 (Reuters) - Colombia produced an average 1,027,000 barrels of crude per day (bpd) in February, down 0.7 percent from January, but up 2.3 percent from the same month a year earlier, the Mines and Energy Ministry said on Monday. Natural gas production in February decreased 8 percent from the same month last year to an average 1.074 billion cubic feet per day, the ministry said. Average national output in 2014 was 988,100 bpd. The association of private-sector oil producers in Colombia expects output to rise slightly this year despite a sharp drop in crude oil prices. The main players in Colombia's oil sector, which has grown rapidly in recent years, have trimmed investment budgets with oil prices more than halving since June. State-run Ecopetrol produces more than half Colombia's oil, while Toronto-listed Pacific Rubiales is the biggest private player. The sector has been hurt by regulatory issues, including long waits to obtain environmental licenses to drill and pump crude, attacks by Marxist rebels, and increasing community resistance to extractive industries. The following is a breakdown of Colombia's average daily oil output. Some of the 2014 figures have been modified slightly by the National Hydrocarbons Agency. CRUDE OIL PRODUCTION ('000 of bpd): 2015 2014 FEB 1,027 1,004 JAN 1,035 1,014 2014 2013 DEC 1,007 1,008 NOV 1,002 1,014 OCT 1,004 986 SEPT 996 1,000 AUG 1,002 1,033 JULY 971 1,023 JUNE 1,011 978 MAY 952 1,019 APRIL 938 1,011 MARCH 979 1,013 FEB 1,004 997 SOURCE: Colombia's Energy Ministry (Reporting by Peter Murphy; Editing by Peter Galloway)
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