News and AnalysIs for

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for May 2019. Crude and natural gas production increased during the five month of this year compared to 2018.

The President of the National Hydrocarbons Agency (ANH), Luis Miguel Morelli, explained how small and medium companies can help reactivate the national industry.

Colombia continues to discuss the possibility of implementing unconventional techniques such as fracking and its effects. Erdal Ozkan, professor of petroleum engineering at the Colorado School of Mines, spoke about this controversial technique and gave some recommendations for its implementation.

The President highlighted the advances of the post-conflict process, while Farc leader, Rodrigo Londoño (‘Timochenko’), demanded effective measures to stop the killing of former Farc members.

Canacol (TSX: CNE) participated in the South America Energy Series 2019 (SAES19) in Bogotá. Omar Serrano, Director of Strategy, Guilds and Contracts of CNE, spoke about the growth and expectations of the company in the country. HCC attended the event and we bring a brief summary of the meeting.

Iván Duque, President of Colombia, promised to make important changes to help the oil sector. The General System of Royalties (SGR) is one of the most controversial issues with communities and authorities announced important moves to reform it.

The State Council is analyzing whether the regulations to develop fracking in Colombia are viable or not, which could start solving the future of unconventionals in the country.

Luis Emilio Sierra, President of the National Federation of Fuel and Energy Distributors (Fendipetróleo), spoke about fuel smuggling in the country. The development of these and other stories in our periodic Security summary.

We might not always agree with the government’s Mining and Energy Planning Unit (UPME) but it is the authoritative source of long-term production forecasts. Recently it updated its production scenarios through 2038.

Gran Tierra Energy (TSX: GTE) announced an operational update for the second quarter of this year, to date. The company highlighted advances in the Acordionero field and positive results in Colombia’s most recent oil round.