Ecopetrol Sets Export Record In April

Colombia's Ecopetrol EC, that country's largest oil company, reported record oil exports in April, exporting 403,510 barrels per day, worth $906 million, the highest level since July 1999. That compares with 254,500 barrels per day worth almost $339 million in April 2009. Colombia has certified about 3.1 billion barrels in oil reserves, including proven, probable and possible reserves, double the country's average over recent years, due to a surge in foreign investment, according to Reuters. Almost 60% of Colombia's oil is exported to the U.S. and nearly a quarter goes to Asia. Colombia is Latin America's fourth largest oil producer behind Brazil, Mexico and Venezuela.