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.
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.
In 2009, the country produced 4.9 million barrels, a 4.3% reduction when compared to 2008.
The Ministry of Energy and Mines (MEM) has announced six oil fields for exploitation for which the tender processes will begin in 2011.
Oil production has been shrinking for the past 6 years.
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