Colombia's Economy
Oil and Coal
How oil and coal became Colombia's biggest exports, the role of state oil firm Ecopetrol, and the Cerrejón coal mine.
Oil and coal are Colombia’s largest exports.
Ecopetrol
Ecopetrol, majority state-owned, is Colombia’s largest company and a key source of government revenue.
Oil reserves
Colombia’s proven oil reserves are limited, lasting only several years at current rates.
Coal
Cerrejón in La Guajira is one of the world’s largest open-pit coal mines, now owned by Glencore.
Price swings
The 2014 oil price crash hit Colombia’s exports, currency and budget.
Local impact
Coal mining has affected Wayuu indigenous communities’ water and land.
When oil prices fell in 2014, Colombia's peso weakened sharply and the budget tightened.
Its reserves are limited.
- Oil and coal are top exports.
- Ecopetrol is majority state-owned.
- Reserves are limited.
- Cerrejón is a giant coal mine.
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