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Colombia's oil reserves fell in 2015 as price curbed activity

BOGOTA, May 21 (Reuters) - Colombia said its crude oil reserves were down 13.2 percent to 2.0 billion barrels at the end of last year, as a global price fall let to a cutting back of activity.

Reserves, equal to 5.5 years of output at the country’s current production rate, were down from 2.3 billion in 2014, the mines and energy ministry said late on Friday.

Colombia, the fourth biggest oil producer in Latin America, has been battered by the global fall in prices. Crude is the country’s largest export and source of foreign exchange.

Colombia’s oil production was 1.06 million barrels per day in 2015. Gas reserves were 4.4 tera-cubic feet, equivalent to 10.3 years of reserves, the ministry added. (Reporting by Helen Murphy; Editing by Alexander Smith)

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