The Colombian Vasconia crude oil barrel costs about $20, and Venezuelan DCO crude oil is sold at $15 per barrel, Корреспондент.net reports.
Due to the continuous drop of global oil prices Venezuela, Colombia and Ecuador have to sell its oil at lower price than the prime cost of its extraction. Thus, Venezuelan DCO crude oil is sold at $15 per barrel, and the Colombian Vasconia barrel costs less than $21.
Ecuador also sells its oil at the lower price than the prime cost, previously said Rafael Correa.
Venezuela ranks among top 10 largest exporters and covers about 3.7% of the market, Colombia – 1.8%, Ecuador – less than 1%.
Previously Mexico reported that its oil price drop is lower than the prime cost (2.5% of global export), though the president of local state oil company Pemex later explained that it refers to the prime cost at new deposits, and in general Mexican oil is profitable, in spite of price drop.
The latest data of the state oil company of Venezuela PDVSA indicated that the barrel production cost is $18 here.
In Colombia this index fluctuated from $20 to $22 in the third quarter of 2015.
“Last week we were exactly at balance point, however currently we already dipped (on barrel price) below this line”, said the source from the largest private oil company of Colombia Pacific Exploration and Production.
