Guatemalan Crude Oil Production Keeps Going Down

Crude oil production dipped 11.5% in 2010 when compared to 2009.

Wednesday, February 16, 2011

Data from the Ministry of Energy and Mines (MEM) highlights a downward trend in place since 2006: 5.8 million barrels in 2006, 5.5 million in 2007, 5.1 million in 2008, 4.9 million in 2009 and 4.3 million in 2010.

“Alfredo Pokus, Hydrocarbon vice minister, explained that the main reason for this decrease is the delay in granting the contract to exploit the field known as ‘Xan’”, reported Elperiodico.com.gt.

More on this topic

Nicaragua Re-Exports Oil to El Salvador

May 2012

The company Albanisa S.A. exported crude Venezuelan oil and derivative products to El Salvador worth a total of $204 million in 2011, at an average price of $102 a barrel.

The data has been provided from an investigation by the newspaper La Prensa of Nicaragua citing data from the Analysis Unit of the Directorate General of Hydrocarbons at the Ministry of Economy in El Salvador.

Oil Production Down 4.3% in Guatemala

February 2010

In 2009, the country produced 4.9 million barrels, a 4.3% reduction when compared to 2008.

Between 2002 and 2003, oil production surpassed 9 million barrels, with a daily average of 24.000 barrels. In 2009, the daily average was just 12.500 barrels.

An article in Elperiodico.com.gt published statements by the Energy Ministry, who “attributes the drop to the natural decay of the oil fields, but assured there are investments planned to increase production at those fields”.

Guatemala: Oil Exploration Areas Go Out to Tender

September 2010

The Ministry of Energy and Mines (MEM) has announced six oil fields for exploitation for which the tender processes will begin in 2011.

The areas to be tendered are in the regions of Petén, Huehuetenango, Quiché and Alta Verapaz.

"The first MEM contract will include three areas located in the central zone of Petén, the northernmost region of Guatemala.

Oil Extraction Down in Guatemala

August 2009

Oil production has been shrinking for the past 6 years.

2.9 billion barrels were produced in July 2009, 2.9% less than the same period of 2008, and 45% less than 2003, when output reached 5.3 billion barrels, according to data from the Ministry of Energy and Mines (MEM).

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