OT-Heads turning south to ColombiaLove this board and love watching oil and gas plays. Of course playing them occasionally but looking to play this big soon. Just for the record with the moron Chevez the plastic clone of Castro strutting around looking to Nationalize Venezuela Oil companies are looking across the board into Colombia who has no interest in playing with the clown so the doors are open to Oil & Gas. No Don't get hung up about what you think you know about Colombia. Try the numbers> Latest update What does this mean to OIL? Lots. Means tightening of Chevez noose and new opportunities most were not that aware of. Been there. Seen it. Love it. Nice.
FDI in 2006 totalled US$ 6,295 million, which was above the estimate made the previous year of US$ 6,000 million.
According to data provided by the technical department of the Central Bank (Banco de la República), foreign direct investment (FDI) in Colombia in 2006 totalled US$ 6,295 million, which was above the estimate made the previous year of US$ 6,000 million.
Of the total inflows, Mining and Quarrying (including coal) accounted for the largest share of the total (31.9%), followed by Oil and Gas (28.1%), Transportation, Warehousing and Communications (12.5%), Manufacturing Industries (10.6%), Trade, Restaurants and Hotels (8.5%), Financial Institutions (6.4%), Construction (2.9%) and Community Services (0.3%).
The economic sectors which experienced highest growth in foreign direct investment inflows between 2005 and 2006 were Agriculture, Hunting and Fish-Farming, which posted annual growth of 424%, increasing from US$ 6 million in 2005 to US$ 33 million in 2006; Financial Institutions, which posted growth of 66% from US$ 244 million to US$ 404 million in 2006; and Trade, Restaurants and Hotels, where inflows increased by 76% to US$ 532 million. The above signals a positive trend for foreign direct investment in economic sectors other than the traditional ones (Mining and Quarrying and Oil and Gas).
In this sense, even though Mining and Quarrying continues to have the largest participation of total FDI (31.9%), inflows to the sector actually dropped 7% last year to US$ 2,010 million in 2006 from US$ 2,157 million in 2005. On the other hand, inflows to the Oil and Gas sector grew 57% to US$ 1,770million.
In terms of the origin of the investments, North America was the region with largest flows of FDI towards Colombia, accounting for 25% of total inflows. Most of these investments came from the United States, whose investments grew by 25% and represented 24% of total FDI. Inflows from the countries of South America and Central America also increased substantially, by 17% and 16% respectively. The most noteworthy of these are investments from Venezuela and Panama, which accounted for 4% and 1% of total FDI, respectively.
Source: PROEXPORT from Central Bank (Banco de la República) data.
Last Update: 2007-4-3