“Reyes” have passed, marking the end of the holiday period in Colombia. Nothing left to do but start 2023 and, for Hydrocarbons Colombia, to make some bold assertions, almost certain to be wrong (if past performance is a guide). As always, I hope I err on the side of conservatism.
We always face a dilemma when big political news comes out that we think our readers need to know: get it on the website quickly because it is important or wait a few days to see if it ‘blows over’. Holiday weekends complicate things as do periods when we are not publishing. With hindsight, we should have ignored the president’s press release about a ceasefire with the ELN.
Being December, this month normally has diminished expectations for progress on any issue. Traditionally, the political and judicial branches shut down around the 15th and nothing much happens until after “Reyes” the holiday corresponding to the Epiphany in Anglo-Saxon countries and which Colombia celebrates on the Monday closest to January 6th. On December 12th, the government and the ELN released a brief press release with limited, mostly procedural, agreements and shut down for the holidays. Then things really started to happen.
As a gift to Colombians to start the New Year, President Gustavo Petro announced a six-month bilateral ceasefire with five major combatants from across the political spectrum (if one believes that politics really has anything to do with the current combatants). History does not suggest this declaration will mean very much in practical terms but we must be optimistic.
The first alarms were at 4:15am Wednesday, December 21, from the port area of Compas, first a fire and then explosions. Several firepersons were injured and one was killed. The storage facilities of Bravo Petroleum are affected.
The head of the Colombian Petroleum Association (ACP), Francisco Lloreda, analyzed the new outlook for the oil and gas sector in Colombia.
Ecopetrol (NYSE: EC) reported on the number of patents it received this year. Here are the details.
The Minister of Finance (MinHacienda), José Antonio Ocampo, explained why gasoline prices could increase more during the next year.
NG Energy International Corp. announced a strategic agreement with COX Energy to boost renewable energies.
GeoPark Limited (NYSE: GPRK) announced its work program and shareholder return framework for 2023.
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