News and AnalysIs for

Source: Company Financial  Reports, Hydrocarbons Colombia

July 11, 2012 A number of Latin American business papers and websites have picked up an EFE story that the Brazilian state oil company Petrobras will invest US$700M through 2016 in the exploration of an offshore gas platform.

Bottom Line: Natural gas suppliers making the point that environmental and health costs tip the balance in favor of gas over coal despite higher costs per BTU.

Bottom Line: Emerald Oil has not pumped crude for four months since a young driver was killed in a FARC attack on a truck convoy.

Bottom Line: The Catholic Church holds much more political and social power in Colombia than in other countries and frequently pronounces on issues of the day.

Bottom Line: Reactions by industry leaders to the killing of 5 Ecopetrol contractors in Putumayo this week.

Bottom Line: The Colombian domestic market is unbalanced with respect to supply so the government – and Pacific Rubiales –  are looking to export.

Bottom Line: Expanding the domestic demand for gas and bring the presence of the state to some often forgotten regions.

Bottom Line: This is taken from a Pacific Rubiales press release so it has the expected positive tone. Still given the industry’s reputation for stealing the “black gold” and leaving behind nothing but an environmental mess, any publicity with a positive spin has to be celebrated.

Bottom Line: MinMinas “propaganda” to encourage vehicle conversion to gas.