On Friday, Colombian business journal Portafolio
spoke with Xavier Serbiá, an international financial analyst for CNN Money.
Serbiá stressed that although Colombia has greatly benefitted from its oil and
mining sectors, it is time for the country to move beyond commodities and
develop its value added products.
He explained that the best way to do this is through
focusing on education and developing the Colombian work force. The CNN analyst
added that Colombia should be considered one of the top 5 economies in the
region, thanks in large part to its macroeconomic stability.
Although Colombia needs to work on diversifying its economy,
it also cannot lose sight of its economic base. La
República published a lengthy piece explaining the extreme importance of
offshore oil exploitation due to Colombia’s dwindling oil reserves. The
business journal argues that offshore drilling is a difficult challenge that
will need to be tackled jointly by all of the actors in the Colombian oil
industry.
In other oil-related news, both Occidental Petroleum’s and
Colombian state oil company Ecopetrol’s stock rose
on news of their joint $2 billion investment to increase production at the La
Cira-Infantas oil field. Despite Colombia’s bleak oil future, the market
considers the oil companies’ investment to be a wise one.
No comments:
Post a Comment