Tuesday, January 22nd, 2019
Gran Tierra Energy (TSX: GTE) announced its 2019 capital budget and production guidance. The firm announced an operational update, reporting a record high production during the fourth quarter of 2018 and positive exploration results.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for December 2018. The good trend continues, as the industry reported more rigs working in this period compared to December 2017 and previous month.
Colombia’s government is looking for alternatives to fund its spending budget this year. Alberto Carrasquilla, Minister of Finance (MinHacienda), made a proposal about the country’s participation in the Ecopetrol (NYSE: EC) stake.
Authorities were able to significantly reduce fuel theft, but are still struggling to eliminate fuel smuggling.
The union’s president, Edwin Palma, rejected the statements of the Minister of Finance (MinHacienda), Alberto Carrasquilla, regarding selling more of Ecopetrol’s (NYSE:EC) shares.
We try to stay away from share price-related issues. There are lots of commentators better suited for that activity. But we do look at share prices in aggregate as an indicator of investor faith in Colombia. Doing that means we need to ‘unpack’ the influence of various performance drivers including oil prices, other broad industry factors, company-specific factors and to get, finally, the influence of Colombia itself.
A suicide car bomb exploded in Bogotá’s police training academy last Thursday morning. Casualties stand at 21 dead and 68 injured (these may change). The Attorney General attributed the attack to the ELN and on Friday night, President Duque terminated discussions with the guerrilla group.